Earn Rewards: Sign up now and earn a special reward after your first deposit. See offer details

<title>Dismiss</title>

Betterment

Save, invest, retire

GET — On the App Store

View

Introducing Custom Model Portfolios. Learn more

<title>Dismiss</title>
Loading

Overview: Beneficiaries, Power of Attorney, and Trusted Contacts

Learn more about how to set up beneficiaries, a power of attorney, or trusted contact.

Articles by Betterment Editors
By the Editorial Staff Betterment Resource Center Published Sep. 01, 2018 | Updated Jul. 15, 2021
Published Sep. 01, 2018 | Updated Jul. 15, 2021
2 min read

TABLE OF CONTENTS


How do I add a beneficiary?

To add a beneficiary, navigate to “Accounts.” You can Also find this via Settings > Accounts from the navigation menu on the left.

Once here, you can enter your primary and contingent beneficiary information for each account.

Can I add a minor as a beneficiary?

We do not recommend you do so. Betterment only supports accounts for individuals the ages of 18 or older. If a minor should be appointed as a beneficiary of an account, Betterment may require court-appointed custodial documentation or an official guardian for the minor beneficiary prior to any funds being transferred. Setting a minor as a beneficiary may cause unforeseen delays.

Note that Betterment can support trust accounts where a minor has been designated as the beneficiary. However, the trustee of the trust must be at least 18 years of age.

Will you accept a power of attorney?

If you have a power of attorney arrangement, you will need to register it with Betterment. Please email support@betterment.com to receive further instructions.

What paperwork is required to set up a power of attorney with Betterment?

In order to register an attorney on an account we require the following:

  • Copy of the executed durable power of attorney document.
  • Copy of a valid US government issued photo ID for the attorney-in-fact (the agent), which includes date of birth, current address and name.
  • The attorney-in-fact’s SSN

How should the power of attorney documents be provided to Betterment?

Please email support@betterment.com for further instructions on how to provide the documents to Betterment.

Alternatively, you can mail the paperwork to:

Betterment Estates

c/o Customer Operations

8 W 24th St, Floor 6

New York, NY 10010

What is a trusted contact?

If we identify actions that appear to be the result of financial exploitation, we’ll reach out to your trusted contact to let them know. You may want to designate a close friend, family member, or other party 18 years or older who we can contact in the unlikely scenario that we suspect you are a victim of financial exploitation.

To add a trusted contact, first you must log in on a web browser. Click Settings on the left and then navigate to the Trusted Contact section.

If you choose to designate a trusted contact, you authorize Betterment Securities to contact the individual to disclose information about your account to address possible financial exploitation, to confirm the specifics of your contact information, health status, or identity of any legal guardian, executor, trustee or holder of a power of attorney, or as otherwise permitted by FINRA Rule 2165.

Back to Top

This article is part of
Betterment's Customer Help Center

How would you like to get started?

Manage spending with Checking

Checking with a Visa® debit card for your daily spending.

Save cash and earn interest

Grow your cash savings for general use for upcoming expenses.

Invest for a long-term goal

Build wealth or plan for your next big purchase.

Invest for retirement

Set up traditional, Roth, or SEP IRAs to save for the golden years.