How to name beneficiaries and fund a trust at Vestwell
Covers 7 retirement, 2 investment, and 3 deposit accounts — beneficiaries can be managed online
Vestwell Holdings, Inc., 360 Madison Avenue, Floor 15, New York, NY 10017
Saver Support
Vestwell Holdings, Inc., 360 Madison Avenue, Floor 15, New York, NY 10017
Who inherits your Vestwell retirement retirement accounts is determined by the beneficiary designation on file—not by your will. This makes keeping designations current one of the most important estate planning steps, especially because the choice of beneficiary also affects how inherited distributions are taxed.
With 12 product types, Vestwell offers a range of transfer options. Some retirement accounts support beneficiary designations on tax-advantaged accounts, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
- Log in to the Vestwell Saver Portal at connect.vestwell.com
- Click "Change Beneficiary" from the Retirement Overview page
- Click "Add Beneficiary" on the "Name Your Beneficiary" page
- Select Beneficiary Level (Primary or Secondary)
- Select Type of Recipient: Person, Trust, or Charity/Organization
- Complete all required fields for the selected recipient type
- For trusts: enter Trust Name, Tax ID, Holding Financial Institution, Phone Number, Email, and Address
- Review all entered information for accuracy
- Click "Create Beneficiary" to save the designation
Special Requirements
- Trusts, individuals, charities, and non-profit organizations are all accepted as beneficiaries
- Spousal Consent Form required to name anyone other than spouse as primary beneficiary on ERISA plans
- Spousal Consent Form must be notarized, stored safely, and presented by non-spousal beneficiaries at time of withdrawal
- Spousal Consent Form is downloadable from the "Spouse Approval" section on the beneficiary designation page
- Trust distributions are subject to 20% federal income tax withholding (non-individual beneficiary)
- Beneficiary designations override wills and other estate planning documents
Sources
Data sourced from Vestwell primary sources (18 pages reviewed). How we research.
Download these Vestwell instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Vestwell primary sources. Bring it to the branch or keep it beside the phone.
Vestwell Holdings, Inc., 360 Madison Avenue, Floor 15, New York, NY 10017
Saver Support
Vestwell Holdings, Inc., 360 Madison Avenue, Floor 15, New York, NY 10017
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