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Colorado Statutory Designated Beneficiary Agreement

Designated Beneficiary

Name: Colorado Statutory Designated Beneficiary Agreement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.72 (488 reviews)

Category:

Colorado Probate - General

State:

Colorado

Control #:

CO-P017

Format:

Instant download

Description

This form is provided for in Colorado statutes to be used when no other estate planning documents, such as a will or power of attorney exist. This form allows individuals to elect to have certain default provisions in state statutes provide rights, benefits, and protections to a designated beneficiary in situations in which no valid and enforceable estate planning documents exist. Allow individuals to elect to have certain default provisions in state statutes provide rights, benefits, and protections to a designated beneficiary in situations in which no valid and enforceable estate planning documents exist.

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How to fill out Colorado Statutory Designated Beneficiary Agreement?

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FAQ

To designate beneficiaries, you will need the full legal name of the individual. You will also need to determine what percentage of your assets will go to each beneficiary if you have more than one listed. Beneficiaries can include spouses, children, and other relatives.

Wills do not override beneficiary designations; rather, beneficiary designations ordinarily take precedence over wills.

Write only one beneficiary on each line. Make sure that you write the full names of all beneficiaries. For example, if you name you children as beneficiaries, DO NOT merely write children on one of the lines; instead write the full names of each of your children on separate lines.

Designated Beneficiary Agreements allows two unmarried people to affirm in writing that they want each other to have legal rights, benefits, and protections to make certain decisions about each other's health care and estate administration as well as treatment in medical emergencies, during incapacity, and at death.

The signature is fraudulent. The document was not executed properly. The decedent was incompetent at the time it was signed. The decedent was subject to undue influence when the document was signed.

A designated beneficiary is a living person. Non-person entities are not considered to be designated beneficiaries, even if named on a retirement account. The designated beneficiary generally has to file a claim with a copy of the death certificate to receive the assets.

A designated beneficiary is named on a life insurance policy or financial account as the recipient of those assets in the event of the account holder's death. A designated beneficiary is a living person.The designated beneficiary generally has to file a claim with a copy of the death certificate to receive the assets.

A beneficiary can be a person, charity, business or trust. If the beneficiary is a person, they can be a relative, child, spouse, friend or anyone else you happen to know. As some agents like to say, you can even name your "secret lover" as a life insurance beneficiary.

Designated Beneficiary

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