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E-FORM 00546 (02/2013) RBC Direct Investing Inc. Contingent Beneficiary Designation to make or change a beneficiary designation Not Applicable to Annuitants Domiciled in Quebec. Account Number: Type.

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13- What is a contingent beneficiary designation? A contingent beneficiary designation enables an Annuitant to make one primary and secondary beneficiary designation. The secondary beneficiary designation would only come into effect if the primary beneficiary predeceases the Annuitant.

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.

Essentially, a contingent beneficiary is a backup in case your primary beneficiary is unavailable, unable to be found, or deceased. Consider the following example: You name your spouse as the primary beneficiary for your life insurance payout. You also include your child as the contingent beneficiary.

Write the names of the first beneficiary(ies) you would like to receive your benefit after you die. You may name an individual(s), entity (such as a charity, business, religious organization, funeral home, etc.), trust, or estate. You may name more than one.

This particular beneficiary is the first person entitled to receive your assets after you die. But if the primary beneficiary dies first or their whereabouts are unknown, your assets will transfer to the person you name as your contingent beneficiary.

You can name anyone as a beneficiary, such as your spouse/partner or a dependent child or grandchild. You can name multiple beneficiaries and allot percentages of your assets to each. You can name a contingent beneficiary (or a person next in line) to receive the funds in your account if the primary beneficiary can't.

A contingent beneficiary is a person alternatively named to receive the benefits in a will or trust. It also refers to a person who benefits only upon the happening of a condition precedent that is implicitly or explicitly expressed in the benefit.

How Contingent Beneficiaries Work. When considering who will inherit your assets, you might name your spouse as the primary beneficiary of 100% of an account. Your two adult children might receive 50% each as contingent beneficiaries if your spouse dies before you do.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232