How to designate beneficiaries at Aspiration

GreenFi Checking and Savings accounts take no payable-on-death or beneficiary designation.¹

The taxable Redwood Fund account takes a transfer on death beneficiary, on the Redwood Fund Transfer on Death (Beneficiary Form).²

TOD registration is limited by account title: "Only accounts registered to individuals or joint tenants, or as community property may designate a TOD beneficiary."²

The Redwood IRA takes a beneficiary designation, on the Redwood Fund IRA Beneficiary Form.³

A trust can be named as beneficiary of the Redwood Fund, even though it cannot own the account.⁴

A trust can be named as beneficiary of the Redwood IRA, even though it cannot own the account.⁴

Beneficiary percentages must total 100%. Unless otherwise indicated, GreenFi assumes equal distribution among multiple beneficiaries.^{2, 3}

The form has room for two primary and two contingent beneficiaries. Naming more requires an attached sheet with the same information for each beneficiary.^{2, 3}

The spouse must sign whenever the spouse is not the sole beneficiary: "The spouse of a married shareholder must sign below if he/she is not designated as the sole beneficiary."^{2, 3}

For investment accounts. Completed by the account owner. Available to download.²

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For IRAs. Completed by the account owner. Available to download.³

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The designation takes effect only "upon receipt by the Fund, prior to my death."^{2, 3}

Each new designation cancels all previous ones.^{2, 3}

There is no self-service beneficiary screen in the GreenFi app or website for any account type. Designations are made on the forms.⁴

A transfer on death designation carries an indemnity in favor of the Fund, its transfer agent, distributor and custodian.⁴

The Redwood Fund is available only through an individual, joint tenant, community property or IRA registration.²

GreenFi does not support trust accounts, so a trust cannot be an account owner at GreenFi. Deposit accounts are held in individual or joint names only.¹