Lynch Beneficiary Designation Form PDF Details

When managing financial affairs, especially regarding investment accounts, it’s crucial to understand the implications and importance of designating beneficiaries correctly. The Lynch Beneficiary Designation Form, presented by Merrill—a Bank of America Company, stands as a pivotal document for account holders aiming to outline who should inherit their account balances upon their demise. This form encompasses a range of accounts such as IRAs, Health Savings Accounts (HSAs), and the Merrill Lynch Education Savings Account (MLESA), among others. It serves not only to name primary and contingent beneficiaries but also to decommission all prior designations, thereby ensuring the account holder's current wishes are accurately reflected. With options to delineate distribution percentages among beneficiaries, and provisions for both "per stirpes" and "per capita" distributions, this form prompts account holders to approach beneficiary designation with detailed precision and personal advisement. The form, which spans three pages, requires meticulous completion and submission to a Merrill Lynch Wealth Management Advisor or directly to the Merrill Advisory Center. Additionally, it carries specific instructions for designating or changing beneficiaries, including legal considerations and the effect on Required Minimum Distributions (RMDs), making it imperative for individuals to consult with legal and tax professionals to safeguard their interests and those of their intended beneficiaries. This comprehensive approach to beneficiary designations underscores its critical role in estate planning and the management of one’s financial legacy.

QuestionAnswer
Form NameLynch Beneficiary Designation Form
Form Length3 pages
Fillable?Yes
Fillable fields209
Avg. time to fill out21 min 16 sec
Other namesaccount designation merrill, merrill lynch beneficiary designation form, merrill edge beneficiary designation, merrill edge add beneficiary

Form Preview Example

Beneficiary Designation Form

MERRILL~.

A BANIK OF AMIUl'ICA C:OMPAN"I'

This form is to be used to designate beneficiaries or to replace all prior beneficiary designations at Merrill for the accounts listed below.

n IRA

n BASIC™

n Archer Medical Savings Account (MSA)

n IRRA®

n SEP IRA

n Health Savings Account (HSA)

n Roth IRA

n SIMPLE IRA

n Merrill Lynch Education Savings Account® (MLESA)*

Instructions:

nUse one form per client. Additional clients must use a separate Beneficiary Designation Form.

nAdditional instructions for completing this form appear below and throughout the form.

nForward your completed form, in its entirety (pages 1-3), to your Merrill Lynch Wealth Management Advisor, Client Associate or the Merrill

Advisory Center.

 

Merrill Lynch Wealth Management Clients

Merrill Edge Self-Directed and Merrill Guided

Please contact your personal advisor to obtain your

Investing Clients

advisor's office fax number or address for

Fax to: 866.994.7807

prompt processing.

Or, you can mail to the following address:

 

Merrill • P.O. Box 29002, Hot Springs, AR 71903-9002

nPlease retain a copy of this form for your records.

Completing Designation/Change of Beneficiary(ies):

nDesignating or changing your beneficiary(ies) has important consequences. We urge you to consult your attorney and/or tax advisor before completing this form.

nYou may name one or more individuals and/or entities to be the primary or contingent beneficiary(ies) of your account, including your estate, trust or other entity. For all beneficiary(ies) named, the percentages must total 100%, (Percentages up to the hundredth decimal may be used).

For individuals, please indicate the legal name, social security number, date of birth, and relationship for each beneficiary. Depending on your designation, the relationship field may affect your Required Minimum Distribution (RMD) calculation. Therefore, it is important to specify the correct relationship (i.e. spouse, non-spouse, trust, estate) in that field. For estates, trusts or other entities please provide the exact name or title of the entity, tax identification number, and the date of inception, if available. Although all fields are not required, we ask you provide as much information as possible to help ensure that after your death we are able to properly identify and locate your named beneficiary(ies) in a timely manner. Designations that include “as per will” or “as per trust” will be considered invalid.

nPlease do not submit copies of your will or trust document. If an estate or trust is designated, Merrill shall rely solely upon the instructions of the executor/administrator or trustee and shall have no responsibility for monitoring the terms of the will or trust.

nAfter your death, the balance in your account(s) shall be distributed to the primary beneficiary(ies) in proportion to the payment percentages indicated. If a primary beneficiary predeceases you, his/her share will be distributed to the remaining primary beneficiary(ies) in proportion to the payment percentages. If no primary beneficiary(ies) survive you, the balance will be distributed to your contingent beneficiary(ies) in the same manner. If no primary or contingent beneficiary(ies) survive you, or if no beneficiary is in effect at the time of your death, we will pay your IRA balance to your surviving spouse, or, if you are not survived by a spouse, to your estate.

nChanging your beneficiary – You may change your beneficiary designation at any time and as often as you wish. Any designation or change of beneficiary is not effective until we receive and accept it. All beneficiary designations must be compatible with our administrative and operational requirements, which may change at any time.

nOptional Designations – Please consult a tax and/or legal professional for further explanation. You may choose only “per stirpes” or “per capita”, but not both, for beneficiaries in the same class (i.e., primary or contingent).

n Per Stirpes is a method of dividing an account where surviving descendants of a deceased beneficiary effectively take the place of their deceased ancestor as primary beneficiary(ies) so that they take the share to which their ancestor was entitled (had he/she lived).

n A Per Capita division of property is an equal division among all named beneficiaries and surviving descendants of deceased ancestors.

n Customized Designations – If your beneficiary designation includes any alterations to the form, provisions in addition to the election of beneficiaries, or if you require additional space to write your designation, please submit your designation on a separate page(s) and attach it to this form. Please write “See Attached” in Section 2, under the Name field. This will be considered a “customized beneficiary designation.” Please note: all customized beneficiary designations must be reviewed for compatibility with Merrill administrative and operational requirements, which may change over time. Please contact your Merrill Lynch Wealth Management Advisor, Client Associate, or the Merrill Advisory Center for more information on customized designations.

*For Merrill Lynch Education Savings Accounts (MLESA), the words “me” and “my” shall refer to the “Student” or “Students,” and the words “you” and “yours” refer to the “Guardian” or the “Guardians” where applicable.

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Branch Office Instructions: Form must be branch scanned to each account.

 

 

 

 

 

 

 

 

1: Account Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Account Numbers (Designation will apply to all accounts listed below.)

 

 

 

 

 

 

 

 

 

 

 

Required

 

Client Name (One client per form. Additional clients must

 

 

 

 

 

 

 

 

 

 

 

 

complete a separate Beneficiary Designation Form).

1

5

 

 

 

2

 

6

 

 

 

3

 

7

 

 

 

4

 

8

 

 

2: Designation/Change of Beneficiary(ies)

PRIMARY BENEFICIARY(IES): I hereby designate the person(s) or entity(ies) named below as primary beneficiary(ies). You may choose only

“per stirpes” or “per capita”, but not both, in this section. Please refer to the instructions page for more information on these fields required and consult a tax and/or legal professional for further explanation about per stirpes and per capita.

I

Required

 

 

 

Optional

Optional

Name

Date of Birth

Relationship

Share %

Tax Identification

Per Per

(MM/DD/YYYY)

(Enter as XXX.XX)

Number

Stirpes Capita

 

 

 

 

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Must Total 100.00%

 

 

CONTINGENT BENEFICIARY(IES): If there are no primary beneficiary(ies) living at the time of my death, I hereby specify that the balance be distributed to the contingent beneficiary(ies). You may choose only “per stirpes” or “per capita”, but not both, in this section. Please refer to the instructions page for more information on these fields required and consult a tax professional for further explanation about per stirpes and per capita.

I

 

Required

 

 

Optional

Optional

 

Name

Date of Birth

Relationship

Share %

Tax Identification

Per

Per

 

(MM/DD/YYYY)

(Enter as XXX.XX)

Number

Stirpes Capita

 

 

 

 

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NOTE: You must sign and date this form in Section 3 on the following page.

Must Total 100.00%

 

 

 

 

 

 

 

2 of 3

3: Signature

INSTRUCTIONS: You must sign and date your Beneficiary Designation Form in order for it to become effective when received and accepted by Merrill. If you are signing on behalf of the client, include your title in the signature line below and ensure the proper documentation authorizing you to do so is on file and approved. The designation will not be valid without proper approval of authorization.

I understand that if no designated beneficiary survives me, or if no beneficiary designation is in effect at my death, the account balance(s) will be paid to my spouse, or if I am not survived by a spouse, to my estate. I am aware that this form replaces all prior beneficiary designations for

the account(s) listed on this form, becomes effective when received and accepted by Merrill, and will remain in effect until I deliver to Merrill another designation form with a later date.

Signature and Title (e.g. Guardian, Conservator, POA)

Date (MM/DD/YYYY)

Daytime Telephone

4: To be Completed ONLY for BASIC Accounts

INSTRUCTIONS:

Spouse’s Consent to Alternate Beneficiary Designation:

nIf you are not married, the plan administrator or notary public does not have to sign the form.

nIf you are married, your spouse must sign and date this section if you designate someone other than your spouse as beneficiary.

nThe plan administrator or a notary public must sign to certify your spouse’s signature.

Unavailability of Spouse’s Consent:

If you cannot obtain your spouse’s consent, your employer must indicate and certify the reason (see below).

I certify under penalty of perjury that I am not married as of the date this form is signed. I understand that if I marry after this date, the rules for married individuals will apply to me.

Spouse’s Consent to Alternate Beneficiary designation:

“I am the spouse of the participant who made the beneficiary designation on this form and I consent to it. I understand that if someone other than me has been designated beneficiary, my consent means that I give up my rights I may have under the Plan and applicable law (other than rights I may later have as the survivor in a joint annuity with the participant)

to receive those amounts payable under the Plan by reason of the participant’s death to which I would otherwise be entitled if I were the participant’s sole beneficiary.”

Spouse’s consent unavailable because:

Participant’s spouse cannot be located.

Other

“It has been established to my satisfaction that the consent of the participant’s spouse to the participant beneficiary designation of this form cannot be obtained for the reason indicated.”

Signature of Plan Administrator

Date (MM/DD/YYYY)

Spouse’s Signature

 

Date (MM/DD/YYYY)

 

 

Signature of Plan Administrator or Notary Public

Date (MM/DD/YYYY)

 

 

Notary Title/Commission

Expiration Date (MM/DD/YYYY)

MERRILL~

A BA N!K OF' AIMI[ 'I CA C,OIMPA.N'Y

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.

Investment products:

Are Not FDIC Insured

Are Not Bank Guaranteed

May Lose Value

© 2021 Bank of America Corporation. All rights reserved.

Code 1217-0321

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How to Edit Lynch Beneficiary Designation Form Online for Free

We were making the PDF editor with the prospect of allowing it to be as effortless to work with as possible. For this reason the process of filling in the lynch designation merrill form is going to be effortless use these particular actions:

Step 1: You should select the orange "Get Form Now" button at the top of the following webpage.

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part 1 to completing beneficiary lynch online

Type in the appropriate information in the area Enter, as, XXXX, Xu, u, u, u, u, u, u, u, uC, J, Must, Total Required, Optional, Optional, Name, DateofBirth, MM, DD, YYYY Relationship, Share, Enter, as, XXXX, Xu, u, u, u, u, u, u, u, uC, J, Must, Total Tax, Identification Number, Per, Stir, pes and Per, Capita

Completing beneficiary lynch online stage 2

Write down the important data in Enter, as, XXXX, Xu, u, u, u, u, u, u, u, uC, J, Must, Total segment.

stage 3 to completing beneficiary lynch online

The Date, MM, DD, YYYY Daytime, Telephone Spouses, consent, unavailable, because Participants, spouse, cannot, be, located and Other segment has to be applied to write down the rights or responsibilities of both parties.

beneficiary lynch online DateMMDDYYYY, DaytimeTelephone, Spousesconsentunavailablebecause, Participantsspousecannotbelocated, and Other fields to fill

Step 3: Once you press the Done button, your ready form may be transferred to each of your gadgets or to email indicated by you.

Step 4: Have a duplicate of any file. It should save you time and make it easier to stay clear of complications in the long run. Keep in mind, the information you have isn't revealed or checked by us.

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