When you are creating or updating your will, it is important to include your beneficiary information. Your beneficiary is the person who will receive your assets when you die. The Schwab Beneficiary Form is a document that can be used to list your beneficiaries and their corresponding asset allocation. This form is free to download on the Schwab website.
This article features specifics of schwab beneficiary. This figure provides details about the form's length, finalization time, and the fields you'll be required to fill.
Question | Answer |
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Form Name | Schwab Beneficiary |
Form Length | 7 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 1 min 45 sec |
Other names | schwab change beneficiary online, schwab designated beneficiary plan agreement, schwab ira beneficiary form, schwab ira beneficiary change |
SchwabDesignatedBeneficiary
PlanApplication
www.schwab.com
ImportantNotesAboutThisForm
• UsethisformtoestablishaDesignatedBeneficiaryPlan(“Plan”)foryourSchwabOne®Brokerageaccount,addthePlantoanewSchwabBankInvestor Checking™account,changebeneficiary(ies)onanexistingPlan,orrevokeanexistingPlan.Anychangesorrevocationsmustbeinwriting.
• Atyourdeath,orthedeathofthelastsurvivingaccountholder,assetscoveredbythisPlanwillbedistributedtothebeneficiary(ies)designatedonthisformor insubsequentrevisionssubmittedtoCharlesSchwab.
• Ifthisisajointaccount,thesurvivingaccountholderhastherighttorevokethePlanorchangebeneficiariesfollowingyourdeath.
• Schwab’sDesignatedBeneficiaryPlancoversonlyassetsintheSchwabOneaccountandSchwabBankInvestorCheckingaccountdesignatedonthisform. AseparateDesignatedBeneficiaryPlanapplicationisrequiredforanyothereligibleSchwabOneaccountandSchwabBankInvestorCheckingaccount.
• Subjecttoapplicablelaw,theDesignatedBeneficiaryPlanwillgenerallytakeprecedenceoveranyestateplanningvehiclessuchasawill ortrust.Pleaseconsultyourattorneyorotherestateplanningadvisorsaboutyourspecificsituation.
• IfyouhaveaSchwabAccess®accountlinkedtoyourSchwabOneBrokerageaccount,theSchwabAccessaccountwillautomaticallyassumethesame beneficiary(ies)thatyoudesignatefortheSchwabOneBrokerageaccount.
EligibilityRequirements
• TheaccountmustbeaSchwabOneBrokerageaccount.Iftheaccountisageneralbrokerageaccount,youwillneedtoupgradetheaccounttoaSchwabOne Brokerageaccount.Callusfortherequiredform.
• Youraccount(s)mustberegisteredasIndividualorJointTenantswithRightsofSurvivorship,orCommunityPropertywithRightsofSurvivorship(notapplicable forSchwabBankInvestorCheckingaccounts),ifyouresideinastatewherethatregistrationispermitted.Beforechangingyourregistrationinordertobecome eligibleforthePlan,youshouldconsultyourattorneyorotherestateplanningadvisors.
• ThePlanisnotavailableinNewYork,NorthCarolinaandLouisiana.IfyourprimaryresidencesubsequentlychangestoastatewherethePlanisnotoffered, thisdesignationwillnolongerbevalid.Also,ifyourprimaryresidenceisoutsidetheUnitedStates,youraccountisnoteligibleforthisPlan.
ImportantNotesforSchwabBankInvestorCheckingClients
• IfyouhaveaSchwabBankInvestorCheckingaccountlinkedtoyourSchwabOneBrokerageaccount,theInvestorCheckingaccountwillautomaticallyassume thesamebeneficiary(ies)thatyoudesignatefortheSchwabOneBrokerageaccount.
• ThisapplicationtoSchwabBankappliesonlytotheInvestorCheckingaccountspecifiedinSection2.Itdoesnotapplytoanyotheraccountsyoumayhaveat SchwabBank.
CharlesSchwab&Co.,Inc.andSchwabBankareseparatebutaffiliatedcompaniesandwhollyownedsubsidiariesofTheCharlesSchwabCorporation.Brokerage
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©2005CharlesSchwab. Allrightsreserved.
Page2of5
1. IndicateAction(Checkoneboxonly.)
AddnewPlan.(Checkthisboxandcompleteallremainingsections.)
AddPlantoanewInvestorCheckingaccount.(Checkthisboxandcompleteallremainingsections.)
ChangebeneficiariesonanexistingPlan.(CheckthisboxandcompleteSections2,3,4,5and8.)
RevokeanexistingPlan.(CheckthisboxandcompleteSections2and8.)
2. AccountInformation
Werespectyourprivacy.SchwabandSchwabBankmayusetheinformationyouprovidetocommunicatewithyouandprovideinformationaboutproductsandservices.
ReadabouttheprivacypoliciesofCharlesSchwab&Co.,Inc.atwww.schwab.com/privacyandCharlesSchwabBank,N.A.atwww.schwabbank.com/privacy.do.
Asrequiredbyfederallaw,wewillusetheinformationyouprovidedtoSchwabandSchwabBanktoverifyyouridentity.
AccountHolder(s)Name(s)
LegalResidenceAddress
City
State
ZipCode
SchwabOne®Brokerage
AccountNumber
IfyouhaveaSchwabAccess®account,pleaseprovideyouraccountnumberifitisassociatedwiththeSchwabOneBrokerageaccountlistedabove:
SchwabAccess
AccountNumber
IfyouhaveaSchwabBankInvestorChecking™account,pleaseprovideyouraccountnumberifitislinkedwiththeSchwabOneBrokerageaccountlistedabove:
SchwabBankInvestor
CheckingAccountNumber
CheckthisboxifyouareopeninganewInvestorCheckingaccountandyoudonotyethaveanaccountnumber.
3. DesignateYourPrimaryBeneficiaries
Atthedeathoftheaccountholderor,inthecaseofajointaccount,atthedeathofthelastsurvivingaccountholder,alloftheassetsintheaccountshallbe transferredtothefollowingbeneficiarieswhosurvivethelastsurvivingaccountholderby120hours.Unlessdifferentpercentagesareindicatedbelow,theassets intheaccountshallbedividedequallyamongthebeneficiaries.Ifyoudesignatemorethanonebeneficiary,pleasemakesurethepercentagesaddupto100%.
Ifyouwouldliketolistadditionalprimaryorcontingentbeneficiaries,pleaseattachtheinformationtothisform.Pleasemakesurethatyouclearlyindicateprimary beneficiariesandanycontingentbeneficiariesandpercentagestheyaretoreceive.
Ifyoulaterwishtochangeoneormorebeneficiaries,youmustcompleteanentirelynewSchwabDesignatedBeneficiaryPlanApplication,listingallbeneficiaries andtheirrespectivepercentages.
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Page3of5
4. DesignateYourContingentBeneficiaries
IfanyprimarybeneficiarylistedinSection3isnotlivingatthedeathofthelastsurvivingaccountholder,ordoesnotsurvivethelastsurvivingaccountholderby
120hours,ordisclaimstheassets,thatbeneficiary’sshareshallpassto:
Pleasecheckone:
A. Theotherprimarybeneficiary(ies)prorata(proportionatetothedesignatedpercentages).
B. Myestateandgothroughprobate.
C. Thefollowingcontingentbeneficiariesproportionatetothedesignatedpercentagesindicatedbelow.
Ifnoneoftheaboveboxesisselected,andmyprimarybeneficiarylistedinSection3isnotlivingatthedeathofthelastsurvivingaccountholder, ordoesnotsurvivethelastsurvivingaccountholderby120hours,ordisclaimstheassets,thatbeneficiary’sshareshallpasstotheotherprimary beneficiary(ies)prorata(proportionatetothedesignatedpercentages).
Unlessdifferentpercentagesareindicated,thoseassetsshallbedividedequallyamongthecontingentbeneficiariesbelow.
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Other:___________________________ |
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USA Other:___________________________ |
Other:___________________________ |
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Other:________________________________ |
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Shouldalldesignatedprimaryandcontingentbeneficiary(ies)disclaimtheassets,predeceasetheaccountholderornotsurvivethelastsurvivingaccountholder by120hours,theassetswillbedistributedtothelastsurvivingaccountholder’sestate.
5. DirectionsforDistributionsofAssetstoMinorBeneficiaries
Pleasecheckone:
A. Noneofmydesignatedbeneficiariesisaminor.
B. Pleasetransferanyminor’sassetstoacustodialaccountatCharlesSchwab&Co.(andSchwabBank,ifSchwabOne®Brokerageaccountislinkedtoa SchwabBankInvestorCheckingaccount),managedbythecustodian(s)designatedbelow.Ineachinstancethattheassetspasstothedesignatedcus- todianasthecustodianforthedesignatedminor,theassetsshallbetransferredundertheUniformTransfertoMinorsAct(UTMA)ortheUniformGiftto MinorsAct(UGMA)oranyothersimilarstatuteineffectasspecifiedbelow.
C.
Ifyouhavechecked“B,”pleaselistthecustodianforeachminorbeneficiary.
NameofCustodian |
AsCustodianfor(NameofMinorBeneficiary) |
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UndertheUTMA/UGMAlawsofthestateof___________________untilage_________________. |
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UndertheUTMA/UGMAlawsofthestateof___________________untilage_________________. |
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UndertheUTMA/UGMAlawsofthestateof___________________untilage_________________. |
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Page4of5
6. DesignatedBeneficiaryPlanTermsofAgreementwithCharlesSchwab&Co.,Inc.
PleasereadthissectioncarefullyandsigninSection8: class,regardlessoftheclassbeforeorafterthedate
A.AmendmentandAccountAgreement.The ofthisapplication.
DesignatedBeneficiaryPlan(the“Plan”)addsto,but Ifitcannotbedeterminedwhetherabeneficiary
doesnotreplaceanyof,thetermsandconditions survivedtheaccountholderby120hours,thebenefi-
ofyourSchwabOne®orSchwabAccess®Account ciarywillbedeemednottohavesurvivedthatperiod.
Agreementsandanyotheragreementsbetweenyou E.RevocationandChangestoBeneficiary andSchwabthatapplytoyouraccountswithCharles Designations.Youmaychangeyournamed
Schwab&Co.,Inc.(“Schwab”).ThePlanconsists beneficiaries,changethepercentagesthatyouwish
ofthePlanApplication,includingthePlanTermsof todistribute,orrevokeyourentirePlanatanytime.
Agreement,andanyotheragreementsbetweenyou Asubsequentbeneficiarydesignationautomatically
andSchwabthatapplytothePlan.IfanyofthePlan revokesapriordesignationofallbeneficiaries,inits TermsofAgreementshouldconflictwiththoseofany entirety,whenitbecomeseffective.Inordertobe
otheragreementsthatapplytoyourSchwabOneor effective,thesechangesmustbemadeinwriting,
SchwabAccessaccounts,astheymaybeamended signedbyalllivingaccountholdersanddeliveredto
fromtimetotime,thePlanTermsofAgreementwill Schwabpriortotheaccountholder’sdeath.Schwab control.Unlessotherwisedefined,capitalizedtermsin willnothonoranychangeofbeneficiarymadeinawill thePlanTermsofAgreementhavethesamemeaning ortrust,exceptasrequiredbycourtorderdeliveredto
asintheSchwabOneorSchwabAccessAccount Schwab.
Agreements.
B.LimitedAvailability.OnlySchwabOneor dulyauthorizedandactingrepresentativeofthe
SchwabAccessaccountswithIndividualorJoint accountholdermaychangeorrevokethebeneficiary
TenantswithRightsofSurvivorship(orCommunity designationonlyifspecificallyauthorizedbyacourt PropertywithRightsofSurvivorship)registrationsare orderorotherinstrumentofappointmentdelivered
eligibleforthePlan.AccountsregisteredasTenants- andacceptabletoSchwab.
areineligible.Yourprimaryresidencemustbeina holder(s)andanydesignatedbeneficiary,including,
stateinwhichSchwaboffersthePlan.Byenrolling butnotlimitedto,subsequentmarriage,dissolution
inthePlan,yourepresenttousthatyourprimary ofmarriage,remarriageoradoption,willnotautomati-
residenceisinoneofthesestates.Youunderstand callyaddorrevokedesignationsofbeneficiaries. thatthePlanautomaticallyterminatesatanytimeyou Forexample,ifaformerspousewasadesignated
nolongerhaveaprimaryresidenceinastatethat beneficiarypriortodissolutionofthemarriage,the
allowsforthePlan,inwhicheventalldesignations formerspousewouldremainabeneficiaryafter
ceasehavinganylegaleffect.Itisyourresponsibility thedissolutionunlesshisorherdesignationasa
tonotifyusinwritingwhenyourprimaryresidence beneficiarywasexpresslyrevokedinwritingthatwas
ceasestobeinaneligiblestate,andwewillthen receivedbySchwab.
cancelyourenrollmentinthePlan.Ifyoureestablish F.PaymentonDeath.Beneficiarydesignations
aprimaryresidenceinastatewhereSchwaboffers underyourPlanwillnotbeeffectiveuntilthedeath
thePlan,youmustcompleteanewDesignated ofthelastsurvivingaccountholder.Ifthisisajoint
BeneficiaryPlanApplication,andyouaresubject account,thesurvivingaccountholderhastheright
whetheryourprimaryresidenceisinastatewhere death.AllassetsinyourPlanmustbeheldatSchwab SchwaboffersthePlan,pleasevisitwww.schwab.com inordertobedistributedtothenamedbeneficiaries
C.PlanFees.Youwillbechargedasetupfeeof$25 toabeneficiary(ies)includeanyinterest,earnings,
toenrollinthePlan.Afterthelastaccountholder’s dividends,etc.,associatedwiththeseaccountassets
death,anyassetsintheaccountthataretransferred butnotpaidorcreditedbeforethedeathofthelast outofSchwabincertificateformwillbeassessedthe survivingaccountholder.Schwabhasnodutyto
feesthenbeingchargedbySchwabtodistributein withholdatransferbasedonknowledgeofanadverse
certificateform.claimunlesswrittennoticeisgivenofthatclaimthat affordsSchwabreasonableopportunitytoactprior
D.DesignationofBeneficiaries.Youmustdesig- tomakingthetransfer.Itistheresponsibilityofeach nateyourbeneficiariesinwritingontheformprovided. beneficiarydesignatedunderthePlantonotifySchwab Onlybeneficiariesidentifiedbyname(includingtrusts) ofthedeathoftheaccountownerandtoprovide: willshareintheaccountproceeds.Thedesignationof (1)acompletedDesignatedBeneficiaryPlan
namedindividualswhomaybeinthesameclassas DistributionForm;(2)acertifiedcopyofthedeath otherindividuals(e.g.,childrenandgrandchildren)will certificate;(3)anotarizedAffidavitofDomicile;and
notautomaticallyincludetheothermembersofthe (4)ataxwaiverifrequiredbystatelaw.Furthermore,it
maybenecessarytorequireproofofthebeneficiary’s dateofbirthorrelationshiptoaccountholder.We willhavenoresponsibilityforlocatingdesignated beneficiaries.Wereservetheright,inoursole discretion,torequireadditionaldocumentation,to consultcounsel,andtoinstitutelegalproceedingsin ordertodeterminetheproperdistributionofaccount assets,whichshallbeattheexpenseoftheaccount.
Schwabreservestherighttowithholdacertain portionoftheproceedspayabletoanybeneficiary, thedistributiontowhomwouldbesubjecttotaxunder
G.SuitabilityofthePlanforYou.Youacknowledge thatSchwabhasnotadvised,norwilladvise,you onwhetherthePlanisappropriateforyou.You acknowledgethataPlanisasubstituteforawill, trustorothertestamentarydispositionofthose assetssubjecttothePlandesignationandmay havesignificanttax,estateplanningorotherlegal consequences.Schwabrecommendsthatyouseek advicefromyourtaxorestateplanningadvisorprior toenrollinginthePlan.
YoufurtheracknowledgethatthisPlandoesnot constituteatrustandthatSchwabhasnofiduciary dutyasatrusteeunderthisPlan.
H.Indemnity.Schwabshallincurnoliabilityfor anypaymentmadeingoodfaithpursuanttothe Plan.You,onbehalfofyourself,yourestateandyour
• yourfailuretonotifySchwabofachangeinprimary residenceordomicilethatmaycausethePlannot tobeapplicableatthetimeoftheaccountholder’s death;
• anyconflictingdesignationsoftheassetsinyour accountbywill,revocablelivingtrustoranyother instrument;
• anywrittenchangeofdesignatedbeneficiaries thatyouhavemadethatisnotreceivedbySchwab duringthelifetimeoftheaccountholder;and
• anyotherclaimsordisputesnotduetoSchwab’s faultornegligence.
I.GoverningLaw.ThePlananditsprovisions areeffectiveimmediatelyupontheexecutionof thisapplicationandreceiptbySchwab.ThePlanis governedbyCalifornialawandapplicablefederallaw, asappliedtocontractsenteredintoandcompletely performedwithinCalifornia.
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Page5of5
7.
Throughoutthisagreement,thewords“you,”“your” designationswillremainineffectuntilchangedor
and“yours”refertoeachaccountholder.“Schwab cancelledbyyou.Duringyourlifetime,thisaccount
Bank,”“we,”“us”and“our”refertoCharlesSchwab belongstoyou.Youmayclosetheaccount,removeor Bank,N.A.Anycapitalizedtermsnotdefinedinthese addabeneficiary,changetheaccounttypeoraccount TermsofAgreementwithSchwabBankcanbefound ownership,andwithdrawallorpartoftheaccount
inyourSchwabBankDepositAccountAgreement. balance.Anydesignation,revocationorchangeto
A.AmendmentandAccountAgreement.This abeneficiarydesignationmustbeauthorizedbyall
Account:TermsofAgreementwithSchwabBank” D.PaymentonDeath.Uponthedeathoftheholder supplementsandispartoftheSchwabBankDeposit
AccountAgreement,whichincludesanarbitration holder,anyAvailableFundsremainingintheInvestor
provision,whichyoureceivedataccountopening.
TheDesignatedBeneficiaryPlanwithSchwabBank any)beneficiary(ies),subjecttoourrighttocharge (the“BankPlan”)consistsoftheSchwabDesignated theaccountforanyamountthedeceasedholder,
BeneficiaryPlanApplicationandtheseTermsof
AgreementwithSchwabBank.Ifthereisaconflict acquireaninterestintheInvestorCheckingaccount
betweenthetermsintheBankPlanandtheterms onlyafterthedeathofallaccountholdersandthen
ofanyotheragreementthatappliestoyourInvestor onlyifthebeneficiary(ies)is(are)alive.Uponyour
Checkingaccount,thetermsintheBankPlanshall death,theAvailableFundsinyourInvestorChecking
control.accountlistedonthisapplicationwillbecomethe
B.LimitedAvailability.OnlyInvestorChecking propertyof,andpayableto,thebeneficiary(ies)
accountswithIndividualorJointTenantswithRights listedonthisapplicationwhosurvive(s)thelast ofSurvivorshipregistrationsareeligiblefortheBank survivingaccountholderby120hours.Ifitcannot
Plan.Otherregistrationtypesareineligibleforthe bedeterminedwhetherabeneficiarysurvivedthe BankPlan.Yourprimaryresidencemustbewithinthe accountholderby120hours,thebeneficiarywillbe UnitedStatesinastatewhereSchwab’sDesignated deemednottohavesurvivedthatperiod.Pleasebe
BeneficiaryPlanisoffered.Ifyourprimaryresidence advisedthatsurvivingaccountholdersmaychange
subsequentlychangestoastatewhereSchwab’s thebeneficiary(ies)atanytime.
DesignatedBeneficiaryPlanisnotoffered,thisBank IfthereisanOverdraftCreditLine(OCL)associated
Planandyourbeneficiarydesignationwillnolonger withyourInvestorCheckingaccount,wemayuse
bevalid.thefundsinyourInvestorCheckingaccount(or
C.DesignationofBeneficiaries:Revocationand otheraccountsyouholdatSchwabBank)topayall
ChangestoBeneficiaryDesignation.Youmay amountsowingonyourOCLbeforewedistributeany
designateyourInvestorCheckingaccounttobe fundstothebeneficiary(ies).
payableonyourdeathtoadesignatedbeneficiary(ies) E.SuitabilityforYou.Youacknowledgethatwe
bynamingthemon,andexecuting,theSchwab havenotadvisedyouonwhethertheBankPlanis
DesignatedBeneficiaryPlanApplication.These appropriateforyou.YouacknowledgethattheBank
Planmayhavesignificanttax,estateplanningorother legalconsequences.Werecommendthatyouseek advicefromyourtaxorestateplanningadvisorpriorto enrollingintheBankPlan.Youfurtheracknowledge thatthisBankPlandoesnotconstituteatrustand thatSchwabBankisnotatrustee.Furthermore,we havenofiduciaryobligationstoyouunderthisBank Plan.
F.Indemnity.Weshallincurnoliabilityforany paymentmadeingoodfaithunderthisBankPlan. You,onbehalfofyourself,yourestateandyour
• yourfailuretonotifyusofachangeinprimary residencethatmaycausetheBankPlannottobe applicableatthetimeofanyaccountholder’sdeath;
• anyconflictingdesignationsoftheassetsinyour InvestorCheckingaccountbywill,revocableliving trustoranyotherinstrument;
• anywrittenchangeofdesignatedbeneficiariesthat youhavemadethatisnotreceivedbyusduring yourlifetime;and
• anyotherclaimsordisputesnotduetoourfaultor negligence.
G.GoverningLaw.TheBankPlananditsprovisions areeffectiveimmediatelyupontheexecutionof thisapplicationandreceiptbyus.TheseTermsof AgreementwithSchwabBankaregovernedby Nevadalawandapplicablefederallaw.
8. AccountHolderAuthorization
Bysigningbelow,I/werequestCharlesSchwab&Co.,Inc.toacceptthebeneficiary(ies)formy/ouraccounts,asspecifiedonthisapplication(ortorevokean existingPlan,ifthatboxischeckedinSection1ofthisapplication).I/weacknowledgeandagreetotheDesignatedBeneficiaryPlanTermsofAgreementwith CharlesSchwab&Co.,Inc.
SchwabBankInvestorCheckingTMAccount:IfI/wehaveprovidedanaccountnumberforanInvestorCheckingaccountinSection2ofthisapplication (orcheckedtheboxindicatinganewInvestorCheckingaccount),I/weadditionallyrequestSchwabBanktoacceptthebeneficiary(ies)formy/ourInvestor Checkingaccountasspecifiedonthisapplication(ortorevokeanexistingPlan,ifthatboxischeckedinSection1ofthisapplication).I/weagreetothe
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AccountHolder’sSignature |
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FORCHARLESSCHWABUSEONLY:
BranchOfficeand AccountNumber
InvestorChecking AccountNumber
IW
©2005CharlesSchwab. Allrightsreserved.
DesignatedBeneficiaryPlanTermsofAgreement withCharlesSchwab&Co.,Inc.
ThesetermsrelatetoyouraccountandarepartoftheAccountAgreementbetweeneachaccountholderandSchwab. Pleaseretainforyourfiles.
A.AmendmentandAccountAgreement.The |
Ifitcannotbedeterminedwhetherabeneficiary |
dateofbirthorrelationshiptoaccountholder.We |
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DesignatedBeneficiaryPlan(the“Plan”)addsto,but |
survivedtheaccountholderby120hours,thebenefi- |
willhavenoresponsibilityforlocatingdesignated |
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doesnotreplaceanyof,thetermsandconditions |
ciarywillbedeemednottohavesurvivedthatperiod. |
beneficiaries.Wereservetheright,inoursole |
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ofyourSchwabOne®orSchwabAccess®Account |
E.RevocationandChangestoBeneficiary |
discretion,torequireadditionaldocumentation,to |
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Agreementsandanyotheragreementsbetweenyou |
consultcounsel,andtoinstitutelegalproceedingsin |
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Designations.Youmaychangeyournamed |
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andSchwabthatapplytoyouraccountswithCharles |
ordertodeterminetheproperdistributionofaccount |
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beneficiaries,changethepercentagesthatyouwish |
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Schwab&Co.,Inc.(“Schwab”).ThePlanconsists |
assets,whichshallbeattheexpenseoftheaccount. |
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todistribute,orrevokeyourentirePlanatanytime. |
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ofthePlanApplication,includingthePlanTermsof |
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Asubsequentbeneficiarydesignationautomatically |
Schwabreservestherighttowithholdacertain |
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Agreement,andanyotheragreementsbetweenyouand |
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revokesapriordesignationofallbeneficiaries,inits |
portionoftheproceedspayabletoanybeneficiary, |
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SchwabthatapplytothePlan.IfanyofthePlanTerms |
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entirety,whenitbecomeseffective.Inordertobe |
thedistributiontowhomwouldbesubjecttotaxunder |
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ofAgreementshouldconflictwiththoseofanyother |
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effective,thesechangesmustbemadeinwriting, |
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agreementsthatapplytoyourSchwabOneorSchwab |
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signedbyalllivingaccountholdersanddeliveredto |
provisionoftheInternalRevenueCode,orunder |
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Accessaccounts,astheymaybeamendedfromtime |
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Schwabpriortotheaccountholder’sdeath.Schwab |
applicablestatelaws. |
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totime,thePlanTermsofAgreementwillcontrol. |
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willnothonoranychangeofbeneficiarymadeinawill |
G.SuitabilityofthePlanforYou.Youacknowledge |
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Unlessotherwisedefined,capitalizedtermsinthePlan |
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ortrust,exceptasrequiredbycourtorderdeliveredto |
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thatSchwabhasnotadvised,norwilladvise,you |
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TermsofAgreementhavethesamemeaningasinthe |
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Schwab. |
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onwhetherthePlanisappropriateforyou.You |
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SchwabOneorSchwabAccessAccountAgreements. |
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acknowledgethataPlanisasubstituteforawill, |
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B.LimitedAvailability.OnlySchwabOneor |
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dulyauthorizedandactingrepresentativeofthe |
trustorothertestamentarydispositionofthose |
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SchwabAccessaccountswithIndividualorJoint |
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accountholdermaychangeorrevokethebeneficiary |
assetssubjecttothePlandesignationandmay |
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TenantswithRightsofSurvivorship(orCommunity |
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designationonlyifspecificallyauthorizedbyacourt |
havesignificanttax,estateplanningorotherlegal |
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PropertywithRightsofSurvivorship)registrationsare |
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orderorotherinstrumentofappointmentdelivered |
consequences.Schwabrecommendsthatyouseek |
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eligibleforthePlan.AccountsregisteredasTenants- |
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andacceptabletoSchwab. |
advicefromyourtaxorestateplanningadvisorprior |
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Changesintherelationshipbetweentheaccount |
toenrollinginthePlan. |
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Survivorship(andIRAsorotherretirementaccounts) |
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holder(s)andanydesignatedbeneficiary,including, |
YoufurtheracknowledgethatthisPlandoesnot |
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areineligible.Yourprimaryresidencemustbeina |
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butnotlimitedto,subsequentmarriage,dissolution |
constituteatrustandthatSchwabhasnofiduciary |
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stateinwhichSchwaboffersthePlan.Byenrolling |
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ofmarriage,remarriageoradoption,willnotautomati- |
dutyasatrusteeunderthisPlan. |
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inthePlan,yourepresenttousthatyourprimary |
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callyaddorrevokedesignationsofbeneficiaries. |
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residenceisinoneofthesestates.Youunderstand |
H.Indemnity.Schwabshallincurnoliabilityfor |
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Forexample,ifaformerspousewasadesignated |
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thatthePlanautomaticallyterminatesatanytimeyou |
anypaymentmadeingoodfaithpursuanttothe |
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beneficiarypriortodissolutionofthemarriage,the |
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nolongerhaveaprimaryresidenceinastatethat |
Plan.You,onbehalfofyourself,yourestateandyour |
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formerspousewouldremainabeneficiaryafter |
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allowsforthePlan,inwhicheventalldesignations |
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thedissolutionunlesshisorherdesignationasa |
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ceasehavinganylegaleffect.Itisyourresponsibility |
paymentasdesignatedbeneficiaries,agreeto |
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beneficiarywasexpresslyrevokedinwritingthatwas |
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tonotifyusinwritingwhenyourprimaryresidence |
indemnifyandholdharmlessSchwab,itsaffiliatesand |
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receivedbySchwab. |
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ceasestobeinaneligiblestate,andwewillthen |
theirdirectors,officers,employeesandagentsfrom |
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cancelyourenrollmentinthePlan.Ifyoureestablish |
F.PaymentonDeath.Beneficiarydesignations |
andagainstallclaims,actions,costsandliabilities, |
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aprimaryresidenceinastatewhereSchwaboffers |
underyourPlanwillnotbeeffectiveuntilthedeath |
includingattorneys’fees,arisingoutoforrelatingto: |
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thePlan,youmustcompleteanewDesignated |
ofthelastsurvivingaccountholder.Ifthisisajoint |
• yourfailuretonotifySchwabofachangeinprimary |
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BeneficiaryPlanApplication,andyouaresubject |
account,thesurvivingaccountholderhastheright |
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residenceordomicilethatmaycausethePlannot |
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torevokethePlanorchangebeneficiariesafteryour |
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tobeapplicableatthetimeoftheaccountholder’s |
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whetheryourprimaryresidenceisinastatewhere |
death.AllassetsinyourPlanmustbeheldatSchwab |
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death; |
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SchwaboffersthePlan,pleasevisitwww.schwab.com |
inordertobedistributedtothenamedbeneficiaries |
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• anyconflictingdesignationsoftheassetsinyour |
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atthelastsurvivingaccountholder’sdeath.Transfers |
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C.PlanFees.Youwillbechargedasetupfeeof$25 |
toabeneficiary(ies)includeanyinterest,earnings, |
accountbywill,revocablelivingtrustoranyother |
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instrument; |
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dividends,etc.,associatedwiththeseaccountassets |
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toenrollinthePlan.Afterthelastaccountholder’s |
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butnotpaidorcreditedbeforethedeathofthelast |
• anywrittenchangeofdesignatedbeneficiaries |
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death,anyassetsintheaccountthataretransferred |
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outofSchwabincertificateformwillbeassessedthe |
survivingaccountholder.Schwabhasnodutyto |
thatyouhavemadethatisnotreceivedbySchwab |
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feesthenbeingchargedbySchwabtodistributein |
withholdatransferbasedonknowledgeofanadverse |
duringthelifetimeoftheaccountholder;and |
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certificateform. |
claimunlesswrittennoticeisgivenofthatclaimthat |
• anyotherclaimsordisputesnotduetoSchwab’s |
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affordsSchwabreasonableopportunitytoactprior |
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D.DesignationofBeneficiaries.Youmustdesig- |
faultornegligence. |
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tomakingthetransfer.Itistheresponsibilityofeach |
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nateyourbeneficiariesinwritingontheformprovided. |
I.GoverningLaw.ThePlananditsprovisions |
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beneficiarydesignatedunderthePlantonotifySchwab |
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Onlybeneficiariesidentifiedbyname(includingtrusts) |
ofthedeathoftheaccountownerandtoprovide: |
areeffectiveimmediatelyupontheexecutionof |
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willshareintheaccountproceeds.Thedesignationof |
(1)acompletedDesignatedBeneficiaryPlan |
thisapplicationandreceiptbySchwab.ThePlanis |
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namedindividualswhomaybeinthesameclassas |
DistributionForm;(2)acertifiedcopyofthedeath |
governedbyCalifornialawandapplicablefederallaw, |
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otherindividuals(e.g.,childrenandgrandchildren)will |
certificate;(3)anotarizedAffidavitofDomicile;and |
asappliedtocontractsenteredintoandcompletely |
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notautomaticallyincludetheothermembersofthe |
(4)ataxwaiverifrequiredbystatelaw.Furthermore,it |
performedwithinCalifornia. |
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class,regardlessoftheclassbeforeorafterthedate |
maybenecessarytorequireproofofthebeneficiary’s |
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ofthisapplication. |
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IW
©2005CharlesSchwab. Allrightsreserved.
InvestorCheckingAccount
TermsofAgreementwithSchwabBank
ThesetermsrelatetoyouraccountandarepartoftheAccountAgreementbetweeneachaccountholderandSchwab Bank.Pleaseretainforyourfiles.
Throughoutthisagreement,thewords“you,”“your”and |
designationswillremainineffectuntilchangedor |
Planmayhavesignificanttax,estateplanningorother |
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“yours”refertoeachaccountholder.“SchwabBank,” |
cancelledbyyou.Duringyourlifetime,thisaccount |
legalconsequences.Werecommendthatyouseek |
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“we,”“us”and“our”refertoCharlesSchwabBank,N.A. |
belongstoyou.Youmayclosetheaccount,removeor |
advicefromyourtaxorestateplanningadvisorpriorto |
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AnycapitalizedtermsnotdefinedintheseTermsof |
addabeneficiary,changetheaccounttypeoraccount |
enrollingintheBankPlan.Youfurtheracknowledge |
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AgreementwithSchwabBankcanbefoundinyour |
ownership,andwithdrawallorpartoftheaccount |
thatthisBankPlandoesnotconstituteatrustand |
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SchwabBankDepositAccountAgreement. |
balance.Anydesignation,revocationorchangeto |
thatSchwabBankisnotatrustee.Furthermore,we |
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A.AmendmentandAccountAgreement.This |
abeneficiarydesignationmustbeauthorizedbyall |
havenofiduciaryobligationstoyouunderthisBank |
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survivingaccountholders. |
Plan. |
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Account:TermsofAgreementwithSchwabBank” |
D.PaymentonDeath.Uponthedeathoftheholder |
F.Indemnity.Weshallincurnoliabilityforany |
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supplementsandispartoftheSchwabBankDeposit |
paymentmadeingoodfaithunderthisBankPlan. |
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AccountAgreement,whichincludesanarbitration |
holder,anyAvailableFundsremainingintheInvestor |
You,onbehalfofyourself,yourestateandyour |
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provision,whichyoureceivedataccountopening. |
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TheDesignatedBeneficiaryPlanwithSchwabBank |
any)beneficiary(ies),subjecttoourrighttocharge |
paymentasdesignatedbeneficiaries,agreeto |
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(the“BankPlan”)consistsoftheSchwabDesignated |
theaccountforanyamountthedeceasedholder, |
indemnifyandholdharmlessSchwabBank,its |
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BeneficiaryPlanApplicationandtheseTermsof |
affiliatesandtheirdirectors,officers,employeesand |
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AgreementwithSchwabBank.Ifthereisaconflict |
acquireaninterestintheInvestorCheckingaccount |
agentsfromandagainstallclaims,actions,costsand |
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betweenthetermsintheBankPlanandtheterms |
onlyafterthedeathofallaccountholdersandthen |
liabilities,includingattorneys’fees,arisingoutofor |
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ofanyotheragreementthatappliestoyourInvestor |
onlyifthebeneficiary(ies)is(are)alive.Uponyour |
relatingto: |
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Checkingaccount,thetermsintheBankPlanshall |
death,theAvailableFundsinyourInvestorChecking |
• yourfailuretonotifyusofachangeinprimary |
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control. |
accountlistedonthisapplicationwillbecomethe |
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residencethatmaycausetheBankPlannottobe |
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propertyof,andpayableto,thebeneficiary(ies) |
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B.LimitedAvailability.OnlyInvestorChecking |
applicableatthetimeofanyaccountholder’sdeath; |
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listedonthisapplicationwhosurvive(s)thelast |
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accountswithIndividualorJointTenantswithRights |
• anyconflictingdesignationsoftheassetsinyour |
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survivingaccountholderby120hours.Ifitcannot |
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ofSurvivorshipregistrationsareeligiblefortheBank |
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InvestorCheckingaccountbywill,revocableliving |
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bedeterminedwhetherabeneficiarysurvivedthe |
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Plan.Otherregistrationtypesareineligibleforthe |
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trustoranyotherinstrument; |
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accountholderby120hours,thebeneficiarywillbe |
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BankPlan.Yourprimaryresidencemustbewithinthe |
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deemednottohavesurvivedthatperiod.Pleasebe |
• anywrittenchangeofdesignatedbeneficiariesthat |
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UnitedStatesinastatewhereSchwab’sDesignated |
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advisedthatsurvivingaccountholdersmaychange |
youhavemadethatisnotreceivedbyusduring |
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BeneficiaryPlanisoffered.Ifyourprimaryresidence |
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thebeneficiary(ies)atanytime. |
yourlifetime;and |
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subsequentlychangestoastatewhereSchwab’s |
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DesignatedBeneficiaryPlanisnotoffered,thisBank |
IfthereisanOverdraftCreditLine(OCL)associated |
• anyotherclaimsordisputesnotduetoourfaultor |
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Planandyourbeneficiarydesignationwillnolonger |
withyourInvestorCheckingaccount,wemayuse |
negligence. |
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bevalid. |
thefundsinyourInvestorCheckingaccount(or |
G.GoverningLaw.TheBankPlananditsprovisions |
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C.DesignationofBeneficiaries:Revocationand |
otheraccountsyouholdatSchwabBank)topayall |
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areeffectiveimmediatelyupontheexecutionof |
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amountsowingonyourOCLbeforewedistributeany |
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ChangestoBeneficiaryDesignation.Youmay |
thisapplicationandreceiptbyus.TheseTermsof |
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fundstothebeneficiary(ies). |
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designateyourInvestorCheckingaccounttobe |
AgreementwithSchwabBankaregovernedby |
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payableonyourdeathtoadesignatedbeneficiary(ies) |
E.SuitabilityforYou.Youacknowledgethatwe |
Nevadalawandapplicablefederallaw. |
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bynamingthemon,andexecuting,theSchwab |
havenotadvisedyouonwhethertheBankPlanis |
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DesignatedBeneficiaryPlanApplication.These |
appropriateforyou.YouacknowledgethattheBank |
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IW
©2005CharlesSchwab. Allrightsreserved.