but also entities like nonprofits, companies, trusts and other organizations. You'll need to provide specific details about the beneficiary, such as the beneficiary's name, date of birth, country of citizenship, relationship to account holder and either the beneficiary...
Designate beneficiaries.If you open a savings account online, you can also choose who will receive the money from your account in the event you pass away. Justin Chidester, a financial planner based in Logan, Utah, says that with joint accounts, the account may automatically transfer to the ...
Anindividual retirement account (IRA)gives the account holder the ability to designate a beneficiary or beneficiaries. The options for distribution of the assets are different depending on whether the beneficiary is aneligible designated beneficiaryor a designated beneficiary. Each beneficiary type may tak...
Financial assets (such asstocksandbonds) held in accounts that already have completed beneficiary forms. Money in apayable-on-deathbank account. Avoiding Probate Any property that your will directs should go to certain beneficiaries (whether people or organizations) most likely will betied up in p...
A living trust is a trust fund and legal document that secures your assets for a beneficiary until a certain time, such as when you pass away, when the beneficiary reaches a certain age, or another circumstance specific to your needs. You should consider putting a living trust on your ...
(like cars, trucks, motorcycles, RVs, ATVs, boats, or planes), the living trust will need to get a new title that lists it as the owner. In some states, you can name your trust as a beneficiary on the title of a car. This keeps the car in your name but gives it to the ...
Custodial Account:A custodial account is created and managed by an adult on behalf of a minor. It allows you to transfer assets and funds to your grandchild, who becomes the account beneficiary once they reach the age of majority. Custodial accounts offer flexibility in terms of investment optio...
Designate a payroll processor Those who excel as a payroll processor have a specific skill set. They tend to be detail-oriented, organized, analytical and technically inclined. Their success, however, requires the collective teamwork of employees, managers and the human resources department. For exam...
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Aregistered agentreceives legal documents if yourbusinessfaces legal action. Texas requires you to designate someone other than yourself for this role. Check theTexas Secretary of State Registered Agent FAQsfor details. Ready to make your business official? File yourCertificate of FormationthroughSOSDire...