In GF593's Unit 7 beneficiary designation audit, 2,188,000 moves by form, 69.4 percent reaches the couple's trust only through probate, and the rest escapes it entirely. Searches like "gf 593 unit 7 assignment example", "gf593 unit 7 sample" and "gf593 unit 7 example" land here.
What a finished GF593 Unit 7 beneficiary designation audit looks like
An audit report of about six pages. A one-paragraph finding opens it, carrying the three figures above. The audit table follows, one row per account: owner, value, primary and contingent beneficiary as written on the form, what the trust intends for that money, the disagreement, and the corrected designation. Her 401(k) of 410,000 names him, then the children equally. His rollover IRA of 188,000 names his mother, who died in 2022, with no contingent. Group life of 330,000 names his estate. A 1,000,000 term policy on her names him and nobody after. A joint brokerage account of 260,000 carries transfer-on-death registration to the children. Beneath the table, each disagreement is traced at the second death, showing which route the money takes and what that route costs.
How a GF593 Unit 7 example is structured
The audit reads like a reconciliation: the trust is the reference document and each form is tested against it. Rows are ordered by the size of the disagreement, so the 1,000,000 policy comes first. Each finding names the route the money would take today, probate, outright to a minor, or through the estate, and the consequence, whether delay, creditor exposure, a court-supervised account or the loss of the trust's age-30 terms. Retirement accounts get a paragraph of their own, since naming a trust changes payout rules, and the audit notes that a trust must qualify as a see-through trust to be treated as a designated beneficiary. Corrections follow in a separate table giving the form, the change and who submits it. A dated recheck, after any marriage, death, birth or divorce, closes the report.
The trust as reference
Every form is tested against the trust's terms, which hold each child's share until 30 and name a successor trustee.
A mother who died in 2022
His IRA's only beneficiary is deceased, so 188,000 falls to the estate, into probate, and under the five-year rule rather than the longer schedule a qualifying trust could use.
Policies that name no one useful
Group life payable to his estate and a term policy with no contingent send 1,330,000 through probate before the trust sees any of it.
Registration that skips the trust
Transfer-on-death registration and the 401(k)'s contingent line hand 670,000 to minors outright, where a conservator or custodian replaces the trust's terms.
Corrections with a named sender
Each fix lists the form, the new primary and contingent lines and which spouse submits it, then a date for the recheck.
Where marks go in GF593 Unit 7
Audits listing each account's beneficiary without comparing it to the plan documents miss the unit's point, since a designation is only wrong relative to what the client intended. The reference document should be named, and every row tested against it, before a single correction appears. A deceased beneficiary left unflagged, or a policy payable to the estate treated as harmless, loses points on nearly every rubric. Papers recommending that the trust be named on retirement accounts, with no mention of the payout rules that follow, have skipped a graduate-level consideration. Totals matter: stating how much money misses the trust makes the case for fixing forms. Corrections written as general advice to review designations periodically, with no specific form and no owner, earn less than a table of changes.
Get a GF593 Unit 7 example written to your instructions
Forms and the document they ought to match, usually a trust or will, are the two inputs an audit needs; send both with the Unit 7 prompt and rubric. Every disagreement is traced to its route at the second death and paired with a corrected designation. First sample free, in 24-48h.
GF593 Unit 7 questions, answered
What if the case gives no trust, only a will?
Then the will is the reference document, and the audit tests each form against its dispositive plan. The findings change shape, since a form naming the estate might then agree with the will while still sending money through probate. The sample's method holds either way: name the reference, test every row, and state the route and consequence of each disagreement.
Why does naming a trust on an IRA need special care?
Because the payout rules depend on who the beneficiary is. A trust meeting the see-through requirements can be treated as a designated beneficiary, and a minor child of the owner may qualify for longer treatment until the age of majority. A trust that fails those requirements can accelerate distributions. The sample flags this for drafting counsel rather than resolving it.
How current do the payout rules need to be?
Current as of the year the paper names, stated once. Retirement account rules changed substantially in recent years and final regulations followed, so the sample dates its summary and brackets any figure that could move. A paper applying older stretch rules to a recent death would misstate the result, and graders familiar with the changes notice.