Should banks and brokers be allowed to require a social security number just to list someone as a beneficiary. Some they'll give it right away others are leary yet I'd like to see them get something. To me it's awkward asking a potential beneficiary for their soc if not a child. It's an awkward conversation period. I'd rather talk about what might finish me off than post mortem financial matters/personal information.
Also with some you list or predesignate a beneficiary on a single form online while some require a notorized signed statement for each individual and organization you'll be giving you money/stocks to.
Also many of these same banks and brokers want tax identification numbers of charities one might give to. There are websites for those since they're public organizations.
With the right bank/broker pre designating beneficiaries is easier and more efficient than a will along with confidential.
Also with some you list or predesignate a beneficiary on a single form online while some require a notorized signed statement for each individual and organization you'll be giving you money/stocks to.
Also many of these same banks and brokers want tax identification numbers of charities one might give to. There are websites for those since they're public organizations.
With the right bank/broker pre designating beneficiaries is easier and more efficient than a will along with confidential.