How to Name a Financial Beneficiary
Decide who you want to receive each account's proceeds.. Add contingent beneficiaries.. Choose a guardian for minor beneficiaries.
Steps
1
Decide who you want to receive each account's proceeds.
Decide who you want to receive each account's proceeds.
2
Add contingent beneficiaries.
Add contingent beneficiaries.
3
Choose a guardian for minor beneficiaries.
Choose a guardian for minor beneficiaries.
4
Discuss the account with your chosen beneficiary.
Discuss the account with your chosen beneficiary.
5
Request a form from your bank or investment company.
Request a form from your bank or investment company.
6
Provide all required information.
Provide all required information.
7
Submit your form.
Submit your form.
8
Update your will.
Update your will.
9
Review your accounts on a regular basis.
Review your accounts on a regular basis.
10
Change beneficiaries to account for major life events.
Change beneficiaries to account for major life events.
11
Keep your named beneficiaries informed of any changes.
Keep your named beneficiaries informed of any changes.
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