Beneficiary Basics: What Every Policyholder Should Know

Losing a loved one is emotionally challenging.

Unfortunately, it often comes with administrative tasks that need attention during the difficult time.

To settle financial matters and transfer property, several important legal documents are required.

Let's explore what beneficiaries need to access.

Who is a beneficiary?

A beneficiary is a person or entity named in legal documents, such as a will, trust, or insurance policy, to receive assets or benefits after someone passes away. There are different types of beneficiaries:

• Estate Beneficiaries: Named in the deceased's will to inherit assets that go through probate.
• Trust Beneficiaries: Receive proceeds from a trust according to its guidelines, without going through probate.
• Insurance Beneficiaries: Get payouts from life, health, or other policies directly, based on the policy terms.
• Pension Beneficiaries: Named separately from wills to receive funds from retirement accounts.
• Transfer on Death (TOD)/Payable on Death (POD) Beneficiaries: Directly receive funds from bank or brokerage accounts.

It's important to note that beneficiary designations take precedence over a will if there are conflicting instructions.

What Are The Top Documents Needed?

Following a death, beneficiaries must gather certain paperwork to claim benefits, pay outstanding debts, distribute assets per the deceased's wishes, and transfer ownership of accounts and property.

• Death Certificate – This primary record proves date/cause of death legally. It is needed to claim insurance, access accounts, transfer titles, etc.
• Will – Outlines distribution of assets per the deceased’s preferences. Requires probate filings to enact.
• Trust – Like a will but designates a third party to manage asset distribution, avoiding probate.
• Power of Attorney – Deceased may have legally empowered someone to manage affairs/assets if incapacitated.
• Financial Statements – Bank, retirement, brokerage records identify assets/debts to settle.
• Insurance Policies – Provide guidance on claiming life, home, auto or health benefits.
• Marriage/Divorce Certificates – Needed in some cases to prove marital status for estate matters.
• Vehicle Titles – Transfer ownership to inheritors per will/state laws.

Need Your Vital Records?

Receiving your vital records through our website only gets better from here. You can receive a state-issued birth certificate, death certificate or any other information needed regarding vital information.

Here’s how State Vital Records works:

• Order online – Submit an application through our online order form. This may all be
• Location - Order is completed by the jurisdiction that holds the record.
• Receiving Documents - You’ll receive the requested information by mail.
  • A. Upload Your Document
  • B. Verify Your Identity
  • C. Connect Online With An Online Notary
  • D. Download Your Notarized Document Through Email.
• If you require assistance in notarizing your document, please contact [email protected]. Interested in the notarization process? Click here to learn more.

Looking to order your state vital records? Click here to make a request. Have any questions, contact us!

COMMON QUESTIONS

ARE THE CERTIFICATES OFFICIAL?

• Yes. The certificates are issued by departments of public health and are recognized and accepted by all state and federal agencies.

WHAT KIND OF PAYMENT METHODS DO YOU ACCEPT?

• We accept Visa, MasterCard, JCB, American Express and Discover. Please contact us for more payment options.

WHAT KIND OF VITAL RECORDS CAN I RECEIVE/ORDER?

• State Birth Certificate
• State Death Certificate
• Marriage Certificate
• Divorce Certificate
• Fetal Death and Stillbirth Certificates

ARE YOU AFFILIATED WITH A LOCAL, STATE OR FEDERAL AGENCY?

• We are a privately-owned site, but trusted and contracted by the Department of Public Health.

WANT TO LEARN MORE ABOUT STATE VITAL RECORDS?

Here are some relevant blogs:

• How To Get Your Birth Certificate for Free?
• How To Amend Your Birth Certificate
• Safe Places To Store Your Birth Certificate
• The 5 Most Powerful Passports In The World