We encourage our clients to review their beneficiaries at least once a year to make sure they are up to date. We highly recommend that you have both primary & contingent beneficiaries on your Schwab accounts to ensure that your assets go to the right people should you pass away. A contingent beneficiary is necessary in the event a simultaneous death takes place for both the account holder and the primary beneficiary. It’s important to ask yourself, where would you want your money to go?
Instructions to add or update Beneficiary Information via Schwab Alliance:
Select 'Service' on the top menu bar and then under 'My Profile' select 'Beneficiaries'.
Manage your beneficiaries: you can update/change/add primary & contingent beneficiary names and percentages directly on your account online. We encourage you to speak to your Estate Planning Attorney to confirm the correct naming of each beneficiary.
Please let us know if you have any questions or need any assistance making beneficiary changes. If preferred, we are happy to send you the beneficiary form to sign electronically via Docusign in Schwab Alliance.
