This is topic DAP Plan beneficiaries in forum TWA at Smilin' Jack.


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Posted by Mayberry (Member # 2641) on :
 
I recently checked my profile on the NetBenefits page to see what information Fidelity had on file. It was missing some information that I assumed was transferred from Hewitt Associates. If you want to check your info go to NetBenefits , Your Profile, then Beneficiary Summaries and then "update". You can update or correct what is on file. If you are married and have anyone listed as a primary beneficiary besides your wife (including your children)you will need a signed and notarized spousal consent form on file with Fidelity. I called Fido and confirmed all that I'm stating. I think I got it right.... but then I rode the short bus to school.
 
Posted by Tom Girtman (Member # 1021) on :
 
Richard,

I believe that the Spouse Consent Form is not necessary if 50% of the DAP is going to the Spouse! I have my two daughters each as beneficiaries at 25%.Tom
 
Posted by Irish (Member # 722) on :
 
Tom,

I know this discussion could be very complicated, but would it not be more prudent to have you and your spouse set up living trusts so that she would receive 100% of the DAP on your demise and then bequeath 50% of her trust to each of your daughters on her demise?

It seems to me that you can never know what will be left if you have extraordinary health expenses and that she might not be able to live on 50% of what's left of the DAP on your demise.

Just thinking...

Paul
 
Posted by Tom Girtman (Member # 1021) on :
 
Paul,

Your advise is good but not for my family. Thanks for providing the information. Tom
 




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