Beneficiary Designation Form - Montana

Beneficiary Designation Form - Montana

Beneficiary Designation Form is a legal document that was released by the Montana Department of Administration - a government authority operating within Montana.

FAQ

Q: What is a beneficiary designation form?
A: A beneficiary designation form is a document that allows you to designate who should receive your assets, such as life insurance proceeds or retirement account balances, upon your death.

Q: Who can I designate as a beneficiary?
A: You can designate anyone as a beneficiary, including family members, friends, or charitable organizations.

Q: Do I need to fill out a beneficiary designation form?
A: It is typically recommended to fill out a beneficiary designation form for any assets that allow for beneficiary designations, such as life insurance policies or retirement accounts.

Q: How do I obtain a beneficiary designation form in Montana?
A: You can usually obtain a beneficiary designation form from your insurance company, financial institution, or employer.

Q: Can I change my beneficiary designation?
A: Yes, you can generally change your beneficiary designation at any time by completing a new form.

Q: What happens if I don't have a beneficiary designation form?
A: If you do not have a beneficiary designation form, the distribution of your assets may be determined by state law or the terms of your contract or policy.

Q: Is a beneficiary designation form legally binding?
A: Yes, a properly completed and executed beneficiary designation form is generally legally binding.

Q: Can I have multiple beneficiaries?
A: Yes, you can typically designate multiple beneficiaries and specify the percentage or portion of the assets each should receive.

Q: Do I need to update my beneficiary designation form?
A: It is recommended to review and update your beneficiary designation form periodically, especially when you experience life changes, such as marriage, divorce, or the birth of a child.

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Form Details:

  • Released on April 1, 2019;
  • The latest edition currently provided by the Montana Department of Administration;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of the form by clicking the link below or browse more documents and templates provided by the Montana Department of Administration.

Download Beneficiary Designation Form - Montana

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