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Ds 5002-2025

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The document provides instructions for designating a beneficiary for lump-sum benefits under the Foreign Service Act. It outlines the order of precedence for beneficiaries, the process for canceling prior designations, and the necessary regulations for valid designation. The document emphasizes that this designation does not serve as a will and details how to properly fill out the form DS-5002, including examples of beneficiary designations and the importance of filing before death.

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Versions	Form popularity	Fillable & printable
2005	4.9 Satisfied (314 Votes)
2004	4.6 Satisfied (54 Votes)

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What is the DS 5002 designation of beneficiary?

A designation of beneficiary is for lump-sum benefit purposes only, and does not affect the right of any person who qualifies to receive survivor annuity benefits. Such benefits are payable either by operations of law or as a result of an election made by a retiring participant.

What happens if I dont designate a beneficiary?

Most life insurance policies have a default order of payment if you do not name a beneficiary. For many individual policies, the death benefit will be paid to the owner of the policy if they are different than the insured person and still alive, otherwise it will be paid to the owners estate.

What is a beneficiary designation for an HSA?

Many people choose the following beneficiaries: A spouse or long-term partner. Adult children. Other family members or close friends. A trust - a legal entity that manages an inheritance on behalf of your heirs and pays out the money over time, which might be an option if you want minor children to receive assets.

What does designation of beneficiary mean?

Provide the following information on the beneficiary designation: The full name of the trust as it shows on the trust document. The date the trust was created. The name of the trustee, followed by the word trustee, or if you cannot provide a trustee, ETF may accept another contact person. The trustees address.

Do I have to fill out a beneficiary designation form?

Forms for Designations We recommend that you designate beneficiaries to receive your life insurance benefits. However, if you are happy with the order of precedence(PDF file), you dont have to do anything.