Client completion guide

Set up your beneficiary designations, one account at a time.

Your estate-planning documents are signed. Now each bank, retirement plan, insurer, and brokerage must receive its own beneficiary instructions. Start by identifying the exact account type, then use that institution’s form.

Find my account type

1Use the exact account title

2Use the institution's own form

3Save proof that it was accepted

Step 1: identify the account

The institution name is not the category.

Fidelity, Schwab, a bank, or an employer portal may hold several different kinds of accounts. Look for the exact words on the statement. In particular, “non-qualified” can mean a taxable brokerage account or an employer deferred-compensation plan, which use different forms.

Find the words on your statement

What kind of account are you updating?

Choose the closest exact label. The result tells you where the form lives and what to request. It does not choose your beneficiary for you.

Start with the account title

Do not choose based only on the institution name. A bank or brokerage can hold an IRA, a regular investment account, an HSA, and a workplace plan, each with a different form.

Account-type reference

401

401(k), 403(b), 457(b), pension, or employer retirement plan

Examples: 401(k), 403(b), 457(b), pension, profit-sharing plan

Where to go: Your employee-benefits portal, HR department, or plan administrator
What to request: The plan's beneficiary designation or change-of-beneficiary form

Pause if: If you are married and your written plan names someone other than your spouse as primary beneficiary, pause. Many employer plans require your spouse's written, witnessed consent.

IRA

Traditional, Roth, rollover, SEP, or SIMPLE IRA

Examples: Traditional IRA, Roth IRA, rollover IRA, SEP IRA, SIMPLE IRA

Where to go: The bank, brokerage firm, or other custodian that holds the IRA
What to request: The custodian's IRA beneficiary designation form

Pause if: Do not assume that your trust or estate should be named. The beneficiary type can change inherited-account tax and distribution rules.

POL

Individual life insurance policy or annuity contract

Examples: term life, whole life, universal life, fixed annuity, variable annuity

Where to go: The insurance carrier's policyholder portal or customer-service team
What to request: A beneficiary change form for that policy or contract

Pause if: If the carrier says a beneficiary is irrevocable, an owner is different from the insured, or another person's consent is required, stop before submitting a change.

POD

Checking, savings, money-market account, or certificate of deposit

Examples: checking, savings, money market, CD, bank deposit account

Where to go: The bank or credit union that holds the deposit
What to request: A payable-on-death (POD), in-trust-for (ITF), or beneficiary designation

Pause if: Joint ownership and a POD beneficiary are different account features. Do not add a joint owner when your instruction is only to add a death beneficiary.

TOD

Taxable brokerage, mutual-fund, or individual investment account

Examples: individual brokerage, joint brokerage, taxable investment, mutual-fund account

Where to go: The brokerage firm or transfer agent that holds the securities
What to request: Transfer-on-death (TOD) registration or the firm's beneficiary form

Pause if: A taxable brokerage account and an IRA can sit at the same firm but use different forms and rules. Complete the form attached to the exact account.

HSA

Health savings account (HSA)

Examples: HSA, health savings account

Where to go: The HSA custodian's official portal or beneficiary form
What to request: The HSA beneficiary designation form

Pause if: An HSA is taxed differently at death depending on whether the beneficiary is a spouse, another person, or an estate. Ask before departing from your written instructions.

TRS

TRS, ERS, TMRS, or another government pension system

Examples: TRS, ERS, TMRS, public pension, government retirement system

Where to go: The retirement system's official member portal or forms page
What to request: The system's member-status-specific beneficiary form

Pause if: Do not assume the active-member form changes a retiree payment option or survivor benefit. The correct form can depend on your status and prior retirement election.

Deferred compensation, equity plan, stock plan, or group life

Examples: NQDC, deferred compensation, RSUs, stock options, group life insurance

Where to go: The employer's benefits team or the separate plan or equity administrator
What to request: The beneficiary form for that exact benefit or plan

Pause if: The phrase non-qualified is not a complete account category. A taxable brokerage account belongs under Brokerage; a nonqualified deferred-compensation plan belongs here.

Real estate, vehicle, business, crypto, 529, custodial account, or something unclear

Examples: house or land, vehicle, LLC interest, crypto wallet, 529 or UTMA/UGMA

Where to go: Pause and identify the legal ownership and account type before changing anything
What to request: Guidance on the correct transfer document, registration, or plan-specific form

Pause if: Real estate, vehicles, business interests, crypto, education accounts, and custodial accounts can require different legal documents or ownership decisions. A generic beneficiary form may be wrong.

Step 2: complete the change

Six steps for every account

Work through one account at a time. A designation is not finished until the institution confirms it is on file.

Use your written plan
Find the beneficiary instructions or estate-plan summary WG Law gave you. This guide helps you locate the right form; your written plan tells you who or what to name.
Make an account list
List each institution and the exact account or policy type. One institution may hold several accounts that require separate forms.
Use the official provider
Sign in through the provider's official website or call the number printed on a current statement. Do not use a form from a search result or another institution.
Enter the designation exactly
Use exact legal names, the correct primary and contingent tiers, and percentages that total 100% within each tier. Use exact trust wording only when your instructions provide it.
Submit every required signature
Follow the institution's rules for signatures, notarization, witnesses, or spousal consent. An unfinished draft in a portal is not a completed designation.
Confirm and keep proof
Download, print, or request confirmation that the institution accepted the change. Keep it with your estate-plan records and review it after major life or employment changes.

Step 3: read the form carefully

What the common fields mean

These definitions help you read the form. Your personal instructions still decide which entries belong in each field.

Primary beneficiary

The first person or entity in line under the account contract.

Use the primary tier shown in your written instructions.

Contingent beneficiary

The backup tier if no primary beneficiary is entitled to receive the asset.

Do not omit this tier when your instructions include one.

Percentage

The share assigned to each beneficiary within a tier.

Primary percentages should total 100%, and contingent percentages should separately total 100%.

Per stirpes / per capita

Different ways a deceased beneficiary's share may be reallocated.

Institution wording varies. Do not choose one from memory; use the written instruction or ask WG Law.

Trust beneficiary

The account form may request the trust's exact legal name, date, and trustee information.

Copy only the exact trust wording supplied for this account. Do not shorten or improvise it.

Accepted / on file

The institution has processed the submitted designation.

Save the acceptance page, letter, or current beneficiary record. Submission alone is not confirmation.

Stop before you submit

Ask WG Law if any of these appear.

1Your instructions name a trust, estate, charity, minor, or person with special needs and the form does not clearly support that entry.
2You are married, an employer plan is involved, and someone other than your spouse is listed as primary beneficiary.
3The form asks about per stirpes, per capita, representation, or another distribution choice not stated in your instructions.
4The current beneficiary is called irrevocable, or a divorce order, QDRO, court order, or other consent may apply.
5The portal's current designation conflicts with your estate-plan summary or uses wording you do not recognize.

Protect sensitive information

Do not email Social Security numbers, full account numbers, passwords, one-time codes, or login credentials. When you ask a question, start with the institution, account type, and the wording that is confusing. Cover sensitive numbers on any screenshot.

Common questions

Before you open the provider’s form

Which category do I use if the account is called non-qualified?

Look at the complete account name. A regular taxable investment account usually fits Brokerage account. A nonqualified deferred-compensation plan offered through an employer fits Other employer benefit. If the statement does not make that clear, ask the institution for the account's legal type before completing a form.

Who should I name as beneficiary?

Use the written beneficiary instructions prepared for your estate plan. The right answer can differ by account and can involve tax, creditor-protection, minor-child, special-needs, or blended-family considerations. This public guide does not replace those personal instructions.

Should I name my living trust on every account?

Not automatically. A trust can be appropriate for some accounts and a poor fit for others, especially retirement accounts. Follow the instructions for the specific account and ask WG Law before changing the beneficiary type.

Do I need a separate form for every account?

Usually, yes. A beneficiary setting on one account does not necessarily change another account at the same institution, and an employer may use separate administrators for retirement, group life, equity, and deferred-compensation benefits.

How do I know the change worked?

Look for an accepted or completed status and save the provider's confirmation. If the portal only says submitted or pending, follow up until the designation appears in the current account record.

What information is safe to send WG Law when I have a question?

Start with the institution name, the account type, and the exact wording that is confusing. Cover full account numbers and do not email Social Security numbers, passwords, one-time codes, or login credentials.

For the legal reason these forms matter, read why a beneficiary designation and a will must be coordinated.

Current official sources

Authority behind this guide

Last reviewed August 4, 2026. Provider forms and plan terms can change, so the institution’s current documents control its process.

Texas Estates Code, Chapter 111 ↗
Section 111.052 recognizes beneficiary provisions in insurance policies, retirement accounts, deposit agreements, deferred compensation arrangements, and other written instruments as nontestamentary transfers.
U.S. Department of Labor retirement-plan guidance ↗
Explains plan records, beneficiary designations, and the spousal-consent rules that apply to many employer retirement plans.
IRS retirement beneficiary guidance ↗
Explains that the plan's procedures control how a retirement beneficiary is designated and that later distribution rules depend on the type of beneficiary.
Texas Estates Code, Chapter 113 ↗
Defines payable-on-death and transfer-on-death deposit accounts under Texas law.
FDIC deposit-account guidance ↗
Explains that a bank POD or ITF account is created through the bank's deposit agreement and records.
Investor.gov transfer-on-death guidance ↗
Explains TOD registration for securities accounts and notes that brokerage firms decide whether to offer it.
IRS Publication 969 ↗
Explains the different federal tax treatment when an HSA passes to a spouse, another beneficiary, or an estate.
Teacher Retirement System of Texas ↗
Explains how an active TRS member can update a beneficiary through MyTRS or Form TRS 15.

This page provides general educational information, not legal, tax, investment, or financial advice. A beneficiary choice should be coordinated with your own estate plan and the provider’s governing documents.

Still unsure which form fits?

Ask before you change the account.

Tell us the institution and exact account type. We can help you identify the right process and compare it with the beneficiary instructions in your estate plan.

Call 214-250-4407 Send a question

Existing WG Law clients should have their beneficiary instruction sheet nearby when they call.