Sentences with phrase «also name a beneficiary»

Your beneficiary can also name a beneficiary, who can potentially stretch the distributions even longer.

You will also name the beneficiaries and state the ways and manners you will want the beneficiaries to receive money from the ILIT.

Split dollar insurance: An arrangement between two people (often an employer and an employee) where life insurance is written on the life of one who also names the beneficiary of the net death benefits (death benefits less cash value), and the other is assigned the cash value (or equivalent amount of death benefits), with both sharing the premium payments (usually the noninsured paying a portion equal to the increase in cash value each year and the insured paying the balance of the annual premium).

«If you notify your insurance carrier of a change in insurance beneficiary, the lender, who is also a named beneficiary, receives a copy of the change.

Not exact matches

Tax slips will be issued with the trustee's name and SIN, and will clearly indicate that the account is registered in trust for a beneficiary, whose name will also appear on the slip.

Your spouse could roll the money over into a new IRA and name a beneficiary of his or her own, who would also be subject to the required minimum distribution rule.

You can also purchase a new policy and name the organization as the sole beneficiary.

It is also important to realize that leaving the company may not be the only way you are leaving your account behind — an unexpected death without beneficiaries named on your account could mean the plan money gets distributed to your estate and can possibly incur unwanted tax implications.

By naming Amnesty International as a beneficiary, you will also avoid probate tax and ensure that funds are available to help address critical human rights issues as quickly as possible.

The dedication included an appearance by Hofflander, who also named the park district a beneficiary in his will.

Apart from individuals, corporate organisations were also named as beneficiaries in the new charges and they include AMP Solar Service, Afro - Arab Investment, Bam Project and Projecties Limited, Bob Oshodin Organisation Limited, Wehsac Farms Limited, Wehsac Limited, Dimaris Mode Coolture Limited, First Aralac Global Limited, Stellavera Development Limited, Jawaz Multi-purpose Venture Limited, Little Italy Global Services Limited, Belsha Nigeria Ltd and Syvan McNamara Limited among others.

You can also designate a trust in the child's name as the beneficiary, and the fiduciary in charge of the trust will pay out the benefit when the child becomes eligible.

By splitting the inherited account, each beneficiary can also name her own successor beneficiaries.

You may also be asked to name one or more beneficiaries, and then select your funding method.

If your grandmother has also passed and there are no other named beneficiaries, then the death benefit will be paid to your uncle's estate.

You can also name multiple beneficiaries.

Also note that with a trust or POD account, the base FDIC insurance limit of $ 250,000 is multiplied by the number of beneficiaries; e.g., if you have 2 beneficiaries named on a POD account (CD, savings, checking, etc.), your account is insured up to $ 500,000.

Also keep in mind that if your parents name you the executor of their estate, you'll have an obligation to make sure all debt is paid off before any proceeds are paid to beneficiaries.

This language also generally allows for successor beneficiaries to be named, facilitating the further tax - deferred growth of the IRA over (possibly) more than one generation.

Your spouse could roll the money over into a new IRA and name a beneficiary of his or her own, who would also be subject to the required minimum distribution rule.

Unless you name your estate as your beneficiary, or purchase the policy as a third party, these insurance proceeds will also be non-taxable by the IRS or state agencies.

This is also why, while you can name your estate as a beneficiary, we don't recommend this option.

If a parent dies and leaves a will that divides the estate equally, but also leaves a life insurance plan that names only one child as a beneficiary, can the other siblings force the life insurance...

Being the named beneficiary on an RRSP account can also have tax benefits.

Or you can set up a primary beneficiary with secondary beneficiaries also named in the policy.

Cash refund options are also available to insure that all monies, plus interest, are returned to named beneficiaries in the event of an early death.

Also, when life events change, such as getting a divorce, remember to update your named beneficiaries.

Also includes paying any debts and giving your money and property to the beneficiaries you have named in your will.

Remember also to name a remainder beneficiary upon the death of the pets.

You can also name NEAS as a beneficiary of a life insurance policy or IRA.

You may also name the QCAWC as the beneficiary of your retirement pan, life insurance policy, bank account, mutual fund, charitable remainder trust, or charitable lead trust.

«When we started OneBigGame, I don't think we could have anticipated that this kind of quality could come out of it,» de Ronde told us ahead of this week's announcements, which also named Save the Children and the Starlight Children's Foundation as the beneficiaries of OneBigGame's charitable contributions.

Also worth noting that distributions to heirs at law, which is the formal name for people who take via intestacy statutes, are often inferior, at least in part, to the claims of creditors against your probate estate, although sometimes a family provision or «exempt property» or a joint tenancy or beneficiary designation, will have priority over a creditor's claims.

New insurance policies or pension plans may also impact whom you name as beneficiaries.

For example, if the husband is required to pay support, he may also be required to obtain a life insurance policy and name his spouse as irrevocable beneficiary of the policy so that if he dies, the spouse will have sufficient funds for his or her support.

These proceeds which are paid to your named beneficiary are also non-taxable so your loved ones can use the money in any manner they choose.

In many ways, Final expense insurance — which is also oftentimes referred to as funeral insurance or burial insurance coverage — works like most other types of life insurance in that, in exchange for a premium payment, a death benefit will be paid out to a named beneficiary (or beneficiaries).

Also, if you a choosing a minor as beneficiary, a guardian must be assigned to oversee / supervise the proceeds of the life insurance policy, and the spending of those proceeds until the minor named beneficiary reaches the age of adulthood.

You could also name a charitable organization that is not your employer as a beneficiary.

Accidental death insurance also referred to as accidental death and dismemberment insurance (AD & D) is designed to pay a set amount to a named beneficiary if the covered individual dies as a direct result of an accident.

This scenario is also a good reminder as to why naming contingent beneficiaries is important.

You can also name your family as shared primary beneficiaries so that if you decide to accelerate your mortgage payments and the principal balance is less than expected at your date of death, the overage goes to your loved ones.

Contact True Blue Life Insurance at 1-866-816-2100 to discuss your options for not only naming a beneficiary, but also making sure that beneficiary is paid as you intended.

You can also name multiple beneficiaries.

It's also smart to name a contingent beneficiary in the event that your existing beneficiary dies before you do.

If you have additional family members you'd like to provide for after you're gone, you can also name them as your primary beneficiaries, in addition to the special needs trust.

You can also designate a trust in the child's name as the beneficiary, and the fiduciary in charge of the trust will pay out the benefit when the child becomes eligible.

Children are commonly named as contingent beneficiaries with a trustee should they be minors in the event of a payment» She further adds, «Naming the «estate» as a beneficiary or contingent beneficiary may also not be the best idea as this then renders the funds back into probate».

They also allow the trust to provide support to the named guardian while still allowing the beneficiary to qualify for public, needs - based benefit programs (Medicaid and Supplemental Security Income).

Or you can set up a primary beneficiary with secondary beneficiaries also named in the policy.