Trustee Designation For FEGLI Death Benefits
Did you know that federal employees and retirees can establish a trust to receive your FEGLI death benefits? This can be done through an inter vivos (living) trust, or through a testamentary trust that is created through your will upon your death.
All you have to do is set up the trust (or provide details for the same in your will) and then come up with a trustee designation and attach it to the Designation of Beneficiary Form.
Specifically, what OPM needs is:
– A statement which explicitly states that your life insurance death benefit should be paid to a named trustee or successor trustee; and
– In case it is a living trust, also the name and date of creation of the trust.
Formats for FEGLI Trustee Designations
OPM provides standard formats for the statements in question that you need to fill up, sign and submit. However, it’s not mandatory that you have to use their format. The important thing is to make sure that the information you provide is complete and accurate, and the trust has been established as per the law.
Note that the space for the designation in the Designation of Beneficiary Form should state “See attached” (to indicate the trustee designation attachment) if you want your FEGLI death benefits to go to a living or testamentary trust.
On the off-chance that the designation of beneficiary form and your submitted attachment get separated, it is vital that your employing office should mark the attachment as received. This is to be done in the same way the designation gets marked as accepted.