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Do I need my spouse’s consent to designate a primary beneficiary other than my spouse?

It depends on your state of residence. If you reside in a “community property state” (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin), you need your spouse’s consent to designate any primary beneficiary other than your spouse. This need arises from state property law.

If you don’t currently reside in a community property state, we recommend that you still get spousal consent. This can be useful if you previously resided in a community property state or move to one in the future. You may want to consult an estate attorney for advice about your personal circumstances.

How do I document my spouse’s consent?

To document your spouse’s consent, have your spouse complete the Spousal Consent Form in the presence of a witness, and then upload the completed form on the Taxes & Documents page. Click Upload a document.

Note that a spousal consent form only applies to a specific beneficiary designation for a single Wealthfront account.

Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.

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