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The beneficiary designation forms allow you to name primary and secondary beneficiaries. Your “primary beneficiaries” are the first people or entities that you want to receive your benefit after you die.

Write only one beneficiary on each line. Make sure that you write the full names of all beneficiaries. For example, if you name you children as beneficiaries, DO NOT merely write “children” on one of the lines; instead write the full names of each of your children on separate lines.

There are two beneficiary designation forms: The basic Beneficiary Designation (ET-2320) allows you to name primary and secondary beneficiaries. The Beneficiary Designation - Alternate (ET-2321) allows you to name primary and secondary beneficiaries. You can also name specific successors to those beneficiaries.

Life insurance beneficiaries can be individuals, such as a spouse or adult child, or entities, such as a trust. For example, if you have minor children, you may choose to establish a trust and name it as the beneficiary of your life insurance policy.

A witness can be any person that is not named as a beneficiary. Your personal acquaintances can best serve as witnesses should the designation be contested in a court of law. If attachments are added to the designation of beneficiary form(s), they must be signed and witnessed also.

Change a beneficiary Generally, you can review and update your beneficiary designations by contacting the company or organization that provides your insurance or retirement plan. You can sometimes do this online. Otherwise, you'll have to complete, sign, and mail a paper form.

If you decide to have more than one beneficiary, you will allocate a percentage of the death benefit for each, so that the total allocation equals 100%. A simple example of this would be allocating 50% to your partner, and 25% to each of your two children, for a total of 100%.