Section 13.26 Transferring Entity Cannot Be Compelled to Accept a Beneficiary Designation

• Library: Trusts and Powers 2013 Supp

B. (§13.26) Transferring Entity Cannot Be Compelled to Accept a Beneficiary Designation

Usually, making a beneficiary designation requires the transferring entity (when there is one) to cooperate by changing the registration of the property or by accepting the proposed beneficiary designation for incorporation into its records. In these situations, the beneficiary designation is a matter of agreement between the owner and the transferring entity. The transferring entity is free to make rules with respect to nonprobate transfers and to establish requirements with...