Article Summary
This article explains how to set up a beneficiary plan on River, including adding beneficiaries, choosing a contingency type, and authorizing.
For each of your personal River accounts, you can name individuals or trusts as selected beneficiaries. Designating a beneficiary plan establishes a transfer on death (TOD) registration for your account. For more information on beneficiary plans, please see this Help Center article.
Please note that business accounts are not able to create a beneficiary plan.
Step 1: Navigate to your account settings
If you are using river.com, click on "Profile & Settings" on the left side of the home page. If you are using the River app, tap on your profile icon in the upper-left corner of the home screen.
Step 2: Select "Beneficiary plan"
If you are using the River app, scroll down to the "Account" section and select "Beneficiary plan." If you are using river.com, scroll to the "Wallet" section and select "Beneficiaries."
Step 3: Select "Start plan"
You will see a preview screen. To continue, select "Start plan."
Step 4: Select beneficiary type
Click "Add a beneficiary" and select which type of beneficiary you would like to add. You can add either an individual or a trust.
Step 5: Enter beneficiary information
If you have chosen an individual, you will be asked to provide their name, date of birth, and optionally their email. If you have chosen a trust, type the name of the trust and optionally the EIN number for the trust.
Step 6: Select beneficiary relationship
Select the relationship of your beneficiary, whether it be for a spouse or non-spouse. If your beneficiary is your spouse, their confirmation of the plan may be required through an approval email sent to their email address.
In community states, it is assumed all property acquired during marriage is owned equally by both spouses, regardless of who earned it.
This means that spousal consent will be required to name someone else as a beneficiary for accounts funded during the marriage:
| Arizona | Louisiana | Texas |
| California | Nevada | Washington |
| Idaho | New Mexico | Wisconsin |
Step 7: Enter the beneficiary's date of birth
Enter the date of birth for your beneficiary.
Step 8: Enter the beneficiary's email address (optional)
You have the option to type in the email address for your beneficiary.
Step 9: Select a contingency plan (for individual beneficiaries only), if desired
You will then have the option to add a contingent type. In the context of beneficiary plans, a contingency plan is a "backup" plan that says who should inherit your assets if your designated beneficiary is unable to. You can choose between per stirpes, per capita, or no selection as your contingency plan. Note that trust beneficiaries will not have a contingency selection available.
| Contingency Type | Definition |
| Per stirpes | A "per stirpes" contingency will redistribute this beneficiary's allocation equally among their children if they predecease you. |
| Per capita | A "per capita" contingency will redistribute this beneficiary's allocation equally among your other primary beneficiaries if they predecease you. |
| No selection | If you elect to have no contingent beneficiary and your designated beneficiaries predecease you, the funds in your account would be handled through the standard estate process, which typically requires documentation (such as probate or other legal paperwork) before funds can be released. |
Step 10: Review beneficiary plan
You will now see a confirmation screen for your beneficiary plan. If you would like to add another beneficiary, select "Add beneficiary" at this step. If the entered details look correct and you do not wish to add another beneficiary, select "Continue."
Note that you are not able to customize allocation percentages. Each primary beneficiary you list will receive an equal share of the funds in your account.
Step 11: Authorization
Click "Authorize plan" to authorize your beneficiary plan. Your plan will now be active unless approval from your spouse is required.
Please note that by approving a beneficiary plan, you agree to River's Transfer on Death agreement.
You can review the status of your beneficiary plan by returning to "Beneficiary plan" in your account settings. The status will be "Pending" if spousal approval is required. River will send an email to your spouse for approval. Once approved, your plan will be active. This request expires after 30 days.
The status will be "Active" if the plan is complete.
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