Are you looking to How To Add Beneficiary To Merrill Edge? Here it is!
Merrill Edge is an online brokerage platform that offers a range of investment products and services.
If you have an account with Merrill Edge, you may want to designate one or more beneficiaries who will inherit your assets in case of your death.
A beneficiary is a person or entity that you choose to receive the proceeds of your account after you pass away.
By naming a beneficiary, you can avoid probate and ensure that your assets are distributed according to your wishes.
Add Beneficiary To Merrill Edge
There are two ways to add a beneficiary to your Merrill Edge account: online or by mail.
Here are the steps for each method:
Online Method
1. Log in to your Merrill Edge account at https://www.merrilledge.com/.
2. Click on “Service” at the top menu bar and select “Beneficiaries” from the drop-down list.
3. Click on “Add/Change Beneficiaries” under the account that you want to update.
4. Review the information on the screen and click on “Continue“.
5. Enter the name, date of birth, relationship, and percentage share for each beneficiary that you want to add.
You can name up to six primary beneficiaries and six contingent beneficiaries.
A primary beneficiary is someone who will receive your assets if they are alive at the time of your death.
A contingent beneficiary is someone who will receive your assets if all of your primary beneficiaries are deceased at the time of your death.
6. If you want to name a trust, charity, or other entity as a beneficiary, click on “Add Entity” and enter the required information.
7. Review your beneficiary designations and click on “Submit“.
8. You will receive a confirmation email with a link to view or print your beneficiary designation form.
You can also access it from your account history.
Mail Method
1. Download and print the Beneficiary Designation Form from here.
2. Fill out the form with your personal information and account number.
3. Enter the name, date of birth, relationship, and percentage share for each beneficiary that you want to add.
You can name up to six primary beneficiaries and six contingent beneficiaries.
A primary beneficiary is someone who will receive your assets if they are alive at the time of your death.
A contingent beneficiary is someone who will receive your assets if all of your primary beneficiaries are deceased at the time of your death.
4. If you want to name a trust, charity, or other entity as a beneficiary, check the box next to “Entity” and attach a separate sheet with the required information.
5. Sign and date the form in front of a witness who is not related to you or any of your beneficiaries.
The witness must also sign and date the form.
6. Mail the original form (not a copy) to:
Merrill
P.O. Box 14354
Lexington, KY 40512-4354
You can also fax it to 866.994.7807.
You will receive a confirmation letter once Merrill processes your request.
Tips
1. You can change or revoke your beneficiary designations at any time by following the same steps as above.
2. You should review your beneficiary designations periodically and update them whenever there is a change in your personal or financial situation (such as marriage, divorce, birth, death, etc.)
3. You should also inform your beneficiaries about their status and provide them with copies of relevant documents (such as account statements, forms, etc.)
Hope this article helped you to add Beneficiary To Merrill Edge.
