[WSBAPT] Custom IRA beneficiary designation form

[Diane J. Kiepe]

Rhonda,

I hear you and have been in your shoes.  I've had to tell my clients a time or two to move assets because of this or the best one - your beneficiary designation has to fit in the box on the form.

Of course this is not an option when you are dealing with an Insurance company.

Maybe put the first person on the form with a note continued on additional pages?

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ronda Larson Kramer
Sent: Thursday, October 8, 2020 4:04 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Custom IRA beneficiary designation form

Listmates,

For years I have been creating custom beneficiary designation forms for my clients' retirement assets, and they attach them to the custodian's own form and write "see Exhibit A, attached hereto" in the spaces for "primary beneficiary" and "contingent beneficiary", and they then get the whole thing notarized and send it off to the custodian. I now have a case where a custodian says this isn't going to work because "the phrase 'Exhibit A' is not a real person or entity. We require a real person or entity to be written in the spaces for primary and contingent beneficiary."

I'm at a loss as to what to say in response, other than, "this is a custom form and the custom form has that information." Any suggestions from those of you with more experience?

Ronda Larson Kramer
J.D., LL.M. Taxation, Owner

LARSON LAW, PLLC
Elder Law, Estate Planning
P.O. Box 7337
Olympia WA 98507
Ph: 360-259-3076
ronda at larsonlawpllc.com<mailto:ronda at larsonlawpllc.com>
www.larsonlawpllc.com<http://www.larsonlawpllc.com/>

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