Download New York 20885 Template in PDF

• Change of Beneficiary Form (21131): Similar to the New York 20885 form, this document allows policyholders to designate or change the beneficiaries of their life insurance policies. It requires specific details about the policy and the new beneficiary.
• Transfer of Ownership Form for Life Policies (21132): This form facilitates the transfer of ownership of life insurance policies. Like the 20885 form, it necessitates the completion of specific sections and signatures from all relevant parties.
• Transfer of Ownership Form for Annuity Policies (22599): This document is used to transfer ownership of annuity contracts. It shares similarities with the 20885 form in that it requires detailed information about the current and new owners.
• Trust Certification Form: This form verifies the existence and details of a trust. It is similar to the 20885 form in that it requires specific information about the trust, including its name and the trustee's authority.
• Policy Application Form: Used to apply for new life insurance or annuity policies, this form collects detailed information about the applicant and the proposed insured, akin to the 20885 form's requirement for proposed insured details.
• Beneficiary Designation Form: This document allows policyholders to specify who will receive benefits upon their death. Like the 20885 form, it requires accurate completion of beneficiary details.
• Trustee Acknowledgment Form: This form confirms the acceptance of a trustee's role within a trust. It mirrors the 20885 form by requiring trustee signatures and affirmation of their authority.
• Revocable Trust Agreement: This legal document establishes a revocable trust and outlines its terms. Similar to the 20885 form, it includes essential details about the grantor, trustees, and beneficiaries.
• Irrevocable Trust Agreement: This document creates an irrevocable trust and specifies its terms. Like the 20885 form, it includes information about the grantor, trustees, and beneficiaries, emphasizing the trust's permanence.

Guide to Filling Out New York 20885

After gathering the necessary information, you can begin filling out the New York 20885 form. This form is crucial for establishing a trust as a beneficiary for life insurance or annuity policies. Ensure that all required sections are completed accurately before submitting the form to the appropriate address.

1. Provide the names of the proposed insured(s), insured(s), or annuitant(s) in the designated field.
2. Enter the policy number(s) associated with the trust.
3. Affirm that the Trust Agreement created by the Grantor/Settlor/Trustor is in effect and contains the required information.
4. Fill in the name of the trust.
5. Indicate the date the trust was established.
6. Specify the state where the trust was established.
7. List the beneficiary(ies) of the trust.
8. Describe the relationship of the trust beneficiary(ies) to the proposed insured(s)/insured(s)/annuitant(s).
9. Provide the name(s) of the trustee(s). If there is more than one trustee, ensure all trustees sign the applicable forms unless the trust states otherwise.
10. Explain the relationship of the trustee(s) to the proposed insured(s)/insured(s)/annuitant(s).

Once all items from 1 to 10 are completed, proceed to page three to secure the required signatures. Ensure that the Agent Certification section is filled out if an agent assists with the form. If completing the form independently and the owner is a trust, include a copy of the trust agreement as needed. Finally, return the completed form to the appropriate service center based on your location.