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Beneficiary Invoice Template

A beneficiary invoice is used as documentation when transferring a Principal’s account to their intended (primary) beneficiaries.

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Same as Company Address


What is a Beneficiary Invoice?

When an individual dies, there needs to be documentation that details where their cash, investments, and property will go. There are many methods in which a Principal can designate their assets to beneficiaries, the most popular method being a Will. To make transferring assets from a Principal’s financial account to a beneficiaries, it may be necessary to notify the financial institution of the instructions.

A beneficiary invoice can be used to facilitate the transfer of the following from a Principal’s account to a beneficiary:

  • IRA
  • Will
  • Annuity
  • Irrevocable Trust
  • Mutual Fund
  • Life Insurance
  • Bank Account (funds)

Transfer on Death

Signing a Transfer on Death agreement is the most secure option for any Principal when it comes to securing their financial accounts after their death. The beneficiaries listed in a transfer on death agreement/deed will override a Will or any other type of document that says otherwise. Furthermore, by having a transfer on death agreement, the account holders assets will not go to probate as they normally would. Financial institutions, such as TD Ameritrade, allow their clients to opt into a transfer on death agreement. In such an agreement, a Principal can designate a multitude of beneficiaries while also allocating a percentage share to each beneficiary. If there is only one beneficiary, the percentage share to that person would be 100%, as the total percentage shares given out must equate to 100%.

Due to the Uniform Transfer to Minors Act, if a beneficiary is a minor (under 18 years of age), the Principal must designate a custodian.



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