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A beneficiary is the person or entity that you legally designate to receive the benefits from your financial products. For life insurance coverage, that is the death benefit your policy will pay if you die. For retirement or investment accounts, that is the balance of your assets in those accounts.
Pershing serves institutional-oriented broker-dealers, investment banks and other capital markets firms, and hedge funds and other alternative investment managers.
Listing the beneficiaries of your wealth is the important first step in your estate plan. Generally, there are four classes of beneficiaries to consider: you and your spouse, friends and family, charity, and the government.
Entity Beneficiary means any partnership, trust, corporation, limited liability company or firm, or any combination thereof, that is not a Designated Beneficiary or an EligibleDesignated Beneficiary but designated by a Participant to receive benefits under the Plan as of the date of death of the Participant.
spouse, partner, children, parents, brothers and sisters, business partner, key employee, trust and charitable organization.
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People also ask

Beneficiary designations allow you to transfer assets directly to individuals, regardless of the terms of your will. Beneficiary designations are often made when a financial account, retirement account, or life insurance policy is established. But, these designations should be reviewed periodically.
Listing the beneficiaries of your wealth is the important first step in your estate plan. Generally, there are four classes of beneficiaries to consider: you and your spouse, friends and family, charity, and the government.
Pershing LLC is a subsidiary of the Bank of New York Mellon with over 60 years experience in providing investment products and services. CommSec has partnered with Pershing LLC to provide our customers with access to trading on US and non-US markets through CommSec International.
Key Takeaways The key difference between Roth and traditional IRAs lies in the timing of their tax advantages. With traditional IRAs, you deduct contributions now and pay taxes on withdrawals later, while Roth IRAs allow you to pay taxes on contributions now and get tax-free withdrawals later.
Primary and contingent beneficiaries There are two types of beneficiaries: primary and contingent. A primary beneficiary is the person (or persons) first in line to receive the death benefit from your life insurance policy typically your spouse, children or other family members.

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