“Beneficiary designation” means a governing instrument naming a beneficiary of an insurance or annuity policy, of an account with POD designation, of a security registered in the beneficiary form (TOD), or of a pension, profit sharing, retirement, or similar benefit plan, or other nonprobate transfer at death.
“Beneficiary”, as it relates to a trust beneficiary, includes a person who has any present or future interest, vested or contingent, and also includes the owner of an interest by assignment or other transfer; as it relates to a charitable trust, includes any person entitled to […]
Beneficiary Designations and Beneficiary Deeds in Colorado Beneficiary designations have long been used to avoid probate upon death. Bank accounts, investment accounts, retirement accounts and life insurance can be transferred upon death by naming a beneficiary to the account or life insurance proceeds. However, when it comes to real estate, designating a beneficiary is not […]
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