How do I add beneficiaries to my Altruist account after opening?
Altruist asks for beneficiary information upon opening an account, but if you didn't add all beneficiaries at that time, or if you need to update or add beneficiaries on an account later, see the instructions below:
On Desktop
To add beneficiaries to your Altruist account, first log into your account at https://app.altruist.com/login.
- From your dashboard, click the top right icon with your initials.
- Select “Settings.”
- Navigate to the "Accounts" tab and choose the account you would like to update, listed under "Managed accounts"
- Scroll down to the bottom section that says "Beneficiaries." If you are adding beneficiaries for the first time, click "Add Primary" (if you are adding secondary, meaning those who become beneficiaries after the primary level is unable to do so, and it is an option listed, click "Add Secondary")
In the bump out window, you will see previously added beneficiaries to other accounts as options, as well as the option to "Add new." If you are adding the same beneficiary, select from the menu and click "Next."
If you are adding a new beneficiary, select the type of beneficiary from the drop-down menu, click next, input their information, and click "Add"
Once added, it will need you to set the type and percentage of designation for the primary beneficiaries. Per capita means assets will be divided equally among the same family level. Per Stirpes means assets will continue down the family line and be passed to their next of kin.
*NOTE: in order to have secondary beneficiaries as Per Stirpes, the primary level must be per capita.
Ex: John wants to set up that in the event of his death, his account goes first to his wife, then to his 2 children if she unable to receive it. To set this up, John will add his wife as a primary beneficiary "Per Capita" for 100%, then add his two children as secondary beneficiaries "Per Stirpes" for 50% each.
*If you have questions on how you should set up your beneficiaries, reach out to your planner.
On Mobile
To add beneficiaries to your Altruist account, first log into your account. From your dashboard, scroll down and tap the account you would like to update.
Next, tap the three dots in the top right and select "Edit Beneficiaries"
From here, you should see the list of beneficiaries added to the account (as seen below). Click Continue to add a beneficiary.
Once you continue, it will ask for the type of designation for the primary beneficiaries. Per capita means assets will be divided equally among the same family level. Per Stirpes means assets will continue down the family line and be passed to their next of kin.
*NOTE: in order to have secondary beneficiaries as Per Stirpes, the primary level must be per capita.
Ex: John wants to set up that in the event of his death, his account goes first to his wife, then to his 2 children if she unable to receive it. To set this up, John will add his wife as a primary beneficiary "Per Capita" for 100%, then add his two children as secondary beneficiaries "Per Stirpes" for 50% each.
Next you will click to "Add New" for a new beneficiary, or if a beneficiary has been named for a different account, they should be listed and can be added.
Choose the type of beneficiary you are adding
Then input the beneficiary's information and follow the instructions.