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BENEFICIARY DESIGNATION FORM Selman & Company

BENEFICIARY DESIGNATION FORM Selman & Company

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now I want to make a note here that not all accounts or not all assets have the ability for the person to designate a beneficiary or to use this process a beneficiary designation form or a beneficiary designation Clause is normally found when you have an asset that is for example a bank account a savings account so it's it's mostly accounts that allow you to have beneficiary designations and it depends on the financial institution some financial institutions will allow it some won't so it's basically depends on the contract you have with the financial institution and what type of account that is for example life insurance usually has a beneficiary designation which allows the decedent to put who they would like to be the beneficiary at their death and So at their death it doesn't go through probate it doesn't go through a law office instead that life insurance company will follow the instructions on that beneficiary designation

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