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Designated Beneficiary Plan Agreement - Tembion Capital

Designated Beneficiary Plan Agreement - Tembion Capital 2025

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The document outlines the Designated Beneficiary Plan Agreement for Schwab One Brokerage and linked High Yield Investor Checking accounts. It details the process for establishing, changing, or revoking beneficiary designations, eligibility requirements, and the implications of such designations upon the account holder's death. The agreement emphasizes that beneficiaries will inherit assets directly, bypassing estate planning tools like wills or trusts. It also includes terms regarding authorized parties, distribution to minor beneficiaries, and legal considerations related to changes in beneficiary designations.

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Click ‘Get Form’ to open the Designated Beneficiary Plan Agreement in the editor.
Begin by filling out the Investment Advisor Information section. Enter the firm name, master account number, service team, contact name, and telephone number as required.
In Section 1, select the appropriate action: add a new plan, add a plan to a new checking account, change beneficiaries, or revoke an existing plan.
Proceed to Section 2 and provide your account information. Ensure that you indicate whether your primary residence is eligible for the plan.
In Section 3, designate your beneficiaries. Clearly specify their names and the percentage of assets each will receive. Make sure these percentages total 100%.
If applicable, complete Section 4 by naming an Authorized Party who can assist in verifying beneficiary identities.
Review all sections for accuracy before signing in Section 8 to finalize your agreement.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a designated beneficiary agreement?

A beneficiary designation is the act of naming the person who will inherit an asset in the event of the account owners passing. Some common examples include life insurance policies and retirement accounts. When the account owner passes away, their assets are then transferred to the beneficiary that they designated.

What is a beneficiary agreement?

Beneficiary Designation Takes Precedence Over A Will This means that if you get divorced and remarry, but do not update your beneficiaries, your former spouse is the legal heir to those accounts if you named him the beneficiary while you were married.

What does designated beneficiary plan mean?

Just means that you have beneficiary(s) on your brokerage account. Usually family members. Similar to having benes on an IRA.

What does designated beneficiary mean?

What is a Designated Beneficiary Agreement? A designated beneficiary agreement is a legal document often used in estate planning that specifically designates a person to be the beneficiary of another persons estate, financial account, or legal rights to other benefits.

Why does my Charles Schwab account say designated beneficiary?

A transfer-on-death (TOD) arrangement is an estate planning tool that allows account owners to transfer assets from bonds, brokerage accounts, and stocks without going through probate proceedings. However, TOD does not avoid taxes.