On Death Plan Details

Scottrade is a company that offers securities brokerage and investment advisory services. One of the services offered by Scottrade is the ability to name a beneficiary for your account in the event of your death. The Scottrade beneficiary form allows you to name a person or entity to receive the assets in your account upon your death. It is important to note that there are specific requirements that must be met in order for a beneficiary to receive the assets in your Scottrade account. This article will provide an overview of the Scottrade beneficiary form and explain the requirements that must be met in order for a beneficiary to receive assets from a Scottrade account.

If you would like first learn how much time you need to complete the scottrade beneficiary and the number of pages it's got, here's some basic information that may be useful.

QuestionAnswer
Form NameScottrade Beneficiary
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other nameson death plan online, scott trade beneficiary form, beneficiary agreement, on death agreement

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PO Box 31542 Saint Louis, MO 63131-0542

TRANSFER ON DEATH

BENEFICIARY PLAN AGREEMENT

In order to have a TOD Beneficiary Plan (Plan) you must open a Scottrade, Inc. (Scottrade) OptionsFirst Brokerage Account for an Individual,Tenants in Common or Joint Tenants with Rights of Survivorship (existing accounts are eligible). Please note, the TOD Beneficiary Plan covers the assets in your Brokerage Account upon your death (or the death of the final account holder). Those assets will be distributed to the beneficiary(ies) designated in this TOD Beneficiary Plan Agreement (Agreement) or in subsequent revisions submitted to Scottrade OptionsFirst. The Plan will take precedence over any estate plan established through a will or a trust, so you are advised to consult with your tax and estate planning professionals prior to signing this Agreement.

Designated Beneficiary Plan Terms and Conditions

Please Read This Section Carefully

Amendment of Account Agreement

This Agreement does not replace any of the terms and conditions of your Scottrade OptionsFirst Brokerage Account Agreement and any other agreements between you and Scottrade OptionsFirst that apply to this account, including margin agreements. However, if any of the terms and conditions of this TOD Agreement should conflict with those of any other agreements that apply to your Scottrade OptionsFirst Brokerage Account, as they are amended from time to time, this TOD Agreement will control. Unless otherwise defined, capitalized terms in this TOD Agreement have the same meanings as in the Brokerage Account Agreement.

Limited Availability

Only Scottrade OptionsFirst Brokerage Accounts with Individual, Tenants in Common or Joint Tenants with Rights of Survivorship registrations are eligible for this Plan. Certain accounts, including but not limited to community property accounts and IRA or other retirement accounts, are not eligible for the Plan.

Designation of Beneficiaries

You must designate your beneficiaries in writing on the form provided. Only beneficiaries identified by name will share in the account. The designation of named individuals who may be in the same class as other people (e.g.,children or grandchildren) will not automatically include the other member of the class before or after the date of this Agreement. If it cannot be determined that the beneficiary survived the account holder by 120 hours, the beneficiary will be deemed not to have survived that period.

Changes to Beneficiary Designations

You may change your named beneficiary(ies), change the percentages that you wish to distribute, or revoke your entire TOD Beneficiary Plan at any time in writing. A subsequent beneficiary designation automatically revokes a prior designation of beneficiaries when it becomes effective. In order to be effective, these changes must be made in writing and received by Scottrade OptionsFirst prior to the account holder’s death. Scottrade OptionsFirst will not honor any change of beneficiary made in a will or a trust, except when in receipt of a court order. An attorney-in-fact, conservator or other duly authorized and acting representative of the account holder may change the beneficiary designation only when ordered by the court. The court order must be delivered to Scottrade OptionsFirst.

Changes in the relationship between the account holder(s) and any designated beneficiary, including but not limited to subsequent marriage, dissolution of marriage, remarriage or adoption, will not automatically add or revoke designations of beneficiaries. For example, a former spouse would remain a beneficiary after the dissolution of a marriage unless his or her designation as a beneficiary was expressly revoked in writing and received by Scottrade OptionsFirst.

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Payment on Death

Your TOD Beneficiary Plan is not effective until the death of the account holder, tenant in common or for accounts held as Joint Tenants with Rights of Survivorship, until the death of the last surviving account holder. (The surviving account holder may change the beneficiary designation(s)). All assets in your TOD Beneficiary Plan must be held at Scottrade OptionsFirst. Transfers to a beneficiary(ies) include any interest, earnings, dividends, etc. associated with these account assets but not paid or credited before the death of the (last surviving) account holder. Scottrade OptionsFirst has no duty to withhold a transfer based on knowledge of an adverse claim unless written notice is given of that claim that affords Scottrade OptionsFirst reasonable opportunity to act. For a Tenant in Common, only your respective percentage ownership of the assets in the account will be distributed to your designated beneficiary(ies).

It is the responsibility of each beneficiary designated under the Plan to notify Scottrade OptionsFirst of the death of the account holder and to provide:

A completed TOD Beneficiary Plan Distribution Form, provided by Scottrade OptionsFirst

Certified copy of the death certificate

Any additional information or documents as Scottrade OptionsFirst may deem necessary or appropriate in its sole discretion.

Suitability of the TOD Beneficiary Plan for You

You acknowledge that Scottrade OptionsFirst has not advised you about the suitability or validity of the Plan, and that Scottrade OptionsFirst recommends that you seek advice from your tax or estate planning professionals prior to signing this Agreement. You further acknowledge that this Plan does not constitute a trust, and that Scottrade OptionsFirst has no fiduciary duty as a trustee under this Agreement. You further acknowledge that it is Scottrade OptionsFirst policy not to give legal or tax advice or to advise you about specific suitability of any particular security, transaction or investment strategy.

Indemnity

In connection with Scottrade OptionsFirst actions in compliance with this Agreement, you, your estate or your successors-in-interest will indemnify and hold Scottrade OptionsFirst, its affiliates, directors, officers, employees and agents harmless from and against all claims, actions, costs and liabilities, including attorneys’ fees, arising out of or relating to:

Actions taken in opening and maintaining your account or registering the securities in your account.

Making distributions upon notice of the death of the (last surviving) account holder pursuant to the terms of this Agreement.

This Plan being disallowed for any reason.

Your failure to notify Scottrade OptionsFirst that your primary residence is no longer in a state in which this Plan is available.

Any conflicting designations of the assets in your Account by will, revocable living trust or any other instrument.

Any written change of designated beneficiaries that you may have made, but has not been received by Scottrade OptionsFirst.

Governing Law

This Agreement is governed by the laws of the state of Missouri and applicable federal law as applied to contracts entered into and performed within Missouri. Please note that page 11, item VII-B of the Scottrade OptionsFirst Brokerage Agreement refers to a pre- dispute arbitration provision.

PLEASE COMPLETE SECTIONS 1 THROUGH 5

Section 4 only required if specifying a contingent beneficiary

Section 6 must be completed by your spouse if you are currently married and

your spouse is not a joint account holder or sole beneficiary.

1.

TOD BENEFICIARY PLAN INFORMATION

 

 

Check one of the following options:

 

 

 

 

 

 

Registering for a TOD Beneficiary Plan

 

 

 

 

 

 

 

 

 

 

 

 

Do you currently have a Scottrade OptionsFirst Brokerage Account?

 

Yes

 

No

 

 

 

 

 

 

(If no, this form must accompany an Account Application)

 

 

 

 

Previously registered for a TOD Beneficiary Plan and submitting this form only to change beneficiary information.

Account Title

 

 

Scottrade OptionsFirst Brokerage Account Number

 

 

 

 

 

 

 

 

Address

 

 

Account Type

 

 

 

 

 

 

 

Individual

 

Tenants in Common

 

 

 

 

 

 

City

State

ZIP

 

 

Joint Tenants with Rights of Survivorship

 

 

 

 

 

 

 

 

 

 

 

 

 

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2.

PRIMARY BENEFICIARY DESIGNATION

At the death of the account holder or, in the case of joint tenants, at the death of the last surviving account holder, all of the assets in the account shall be transferred to the following beneficiaries who survive the (last surviving) account holder by 120 hours. At the death of a tenant in common, only that tenant’s percentage of assets shall be transferred to the following beneficiaries who survive the tenant by 120 hours. Unless different percentages are indicated below, the assets in the account shall be divided equally among the beneficiaries. If you designate, please make sure that the allocations add up to 100%. In the event that any securities in the account cannot, for any reason, be partitioned and transferred to the beneficiaries equally, Scottrade OptionsFirst shall, to the extent necessary, liquidate the securities and transfer the proceeds of that sale among the beneficiaries according to the percentages indicated.

Primary Beneficiary's Name

 

Date of Birth

Daytime Telephone

 

Designated Percentage

 

 

 

 

 

%

Address

 

 

Social Security or Tax ID Number

 

 

 

 

 

 

 

 

City

State

ZIP

Relationship to Account Holder

 

 

 

 

 

 

 

 

Primary Beneficiary's Name

 

Date of Birth

Daytime Telephone

 

Designated Percentage

 

 

 

 

 

%

Address

 

 

Social Security or Tax ID Number

 

 

 

 

 

 

 

 

City

State

ZIP

Relationship to Account Holder

 

 

 

 

 

 

 

 

Primary Beneficiary's Name

 

Date of Birth

Daytime Telephone

 

Designated Percentage

 

 

 

 

%

Address

 

 

Social Security or Tax ID Number

 

 

 

 

 

 

 

 

City

State

ZIP

Relationship to Account Holder

 

 

 

 

 

 

 

 

Primary Beneficiary's Name

 

Date of Birth

Daytime Telephone

Designated Percentage

 

 

 

 

%

Address

 

 

Social Security or Tax ID Number

 

 

 

 

 

 

 

 

City

State

ZIP

Relationship to Account Holder

 

 

 

 

 

 

 

 

If you would like to list additional beneficiaries, please attach the information on this form. Please make sure you clearly indicate primary

beneficiaries and contingent beneficiaries.

 

 

 

 

 

 

 

 

3.

DISPOSITION OF DECEASED PRIMARY BENEFICIARY ASSETS

 

 

If any beneficiary listed above is not living at the death of the account holder (or in the case of joint tenancy, the last surviving account holder) or does not survive the (last surviving) account holder or tenant in common by 120 hours, that beneficiary's share (please check one):

shall pass to the remaining primary beneficiary(ies) pro rata (proportionate to the designated percentages)

shall pass to my estate and go through probate

shall pass to the contingent beneficiaries as listed below (please complete section 4; assets will be divided equally unless different percentages are indicated)

4.

 

CONTINGENT BENEFICIARY DESIGNATION

 

 

 

 

 

 

 

 

 

Contingent Beneficiary's Name

 

 

Date of Birth

Daytime Telephone

 

Designated Percentage

 

 

 

 

 

%

Address

 

 

 

Social Security or Tax ID Number

Relationship to Account Holder

 

 

 

 

 

 

 

City

State

 

ZIP

Name of Primary Beneficiary Received From

 

 

 

 

 

 

 

Contingent Beneficiary's Name

 

 

Date of Birth

Daytime Telephone

 

Designated Percentage

 

 

 

 

 

 

%

 

 

 

 

 

 

 

Address

 

 

 

Social Security or Tax ID Number

 

Relationship to Account Holder

 

 

 

 

 

 

 

City

State

 

ZIP

Name of Primary Beneficiary Received From

 

 

 

 

 

 

 

Contingent Beneficiary's Name

 

 

Date of Birth

Daytime Telephone

 

Designated Percentage

 

 

 

 

 

 

%

 

 

 

 

 

 

 

Address

 

 

 

Social Security or Tax ID Number

 

Relationship to Account Holder

 

 

 

 

 

 

 

City

State

 

ZIP

Name of Primary Beneficiary Received From

 

 

 

 

 

 

 

Contingent Beneficiary's Name

 

 

Date of Birth

Daytime Telephone

 

Designated Percentage

 

 

 

 

 

 

%

 

 

 

 

 

 

 

Address

 

 

 

Social Security or Tax ID Number

 

Relationship to Account Holder

 

 

 

 

 

 

 

City

State

 

ZIP

Name of Primary Beneficiary Received From

 

 

 

 

 

 

 

Should all designated primary and contingent beneficiary(ies) dislcaim the assets, predecease the account holder or not survive the (last surviving) account holder by 120 hours, the assets will be distributed to the (last surviving) account holder's estate.

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5.

DIRECTIONS FOR DISTRIBUTIONS OF ASSETS TO MINOR BENEFICIARIES

Please check one:

A. None of my designated beneficiaries are minors

Please transfer any minor's assets to a custodial account at Scottrade OptionsFirst, managed by the custodian(s) designated below. In

B. each instance that the assets pass to the designated custodian for the designated minor, the assets shall be transferred under the Uniform Transfer to Minor's Act of the account holder's state of residency.

I did not check 5B above, and understand that a court-appointed guardian may be appointed to manage the minor's assets

C.under on-going court supervision; this is acceptable to me.

If you have checked 5B, please list the custodian for each minor beneficiary.

Name

As Custodian For (Name of Minor Beneficiary)

Name

As Custodian For (Name of Minor Beneficiary)

Name

As Custodian For (Name of Minor Beneficiary)

Name

As Custodian For (Name of Minor Beneficiary)

Are you married?

No

Yes

(if yes, please complete section 6)

6.

SPOUSAL CONSENT

 

This section must be completed by the spouse of either the account holder or tenant in common if the spouse is not named as the sole beneficiary of the account assets, or is not a joint tenant with rights of survivorship.

The undersigned hereby declares that he/she is the spouse of the account holder of the TOD Beneficiary Plan and consents to any designation of beneficiaries made whatsoever and whensoever by the account holder for this Agreement. Unless Scottrade OptionsFirst has received actual written notice of the revocation of the undersigned's written consent, the undersigned also agrees not to make any claim against the beneficiary(ies) or against Scottrade OptionsFirst as a result of any distribution to said beneficiary(ies) pursuant to this Agreement. This consent shall apply to all assets in the account upon the death of the account holder. The undersigned can revoke this consent by executing a letter of authorization (signed by the account holder and the undersigned), which must be received by Scottrade OptionsFirst prior to the account holder's death.

Signature of Spouse

Date

Signature of Witness* (Required)

Date

Name of Spouse

Name of Witness (Please Type of Print)

Address

Address

City/State

ZIP

City/State

ZIP

* This witness may not be the account holder, a Scottrade OptionsFirst employee or any designated beneficiary of these account assets.

SIGNATURES REQUIRED (For Joint Accounts, this Agreement must be signed by all Account Holders)

X

Print NameSignatureDate

X

Print Name

Signature

 

 

Date

 

 

 

 

 

 

 

 

 

 

FOR SCOTTRADE OPTIONSFIRST USE ONLY

 

 

 

 

 

 

 

 

 

 

 

 

A.E. Approval

Date

 

Branch Manager

Date

 

 

 

 

 

 

 

 

SF1026/9-12

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