Sentences with phrase «assets on behalf of your beneficiaries»
You can also set up a trust account to hold assets on behalf of a beneficiary.
https://www.mybanktracker.com/
A trust is a legal entity that holds assets on behalf of the beneficiary and appoints a trustee to distribute them according to your instructions.
Registered Education Savings Plan (RESP): A plan that enables a contributor, on a tax - deferral basis, to accumulate assets on behalf of a beneficiary to pay for a post-secondary education.
A plan that enables a contributor, on a tax deferral basis, to accumulate assets on behalf of a beneficiary to pay for a post secondary education.
A trust, also called a living trust, is a legal arrangement that gives a trustee authority to hold assets on behalf of your beneficiaries.
Not exact matches
Except as set forth in paragraph (D)(2) of this appendix, recipients will attribute to an individual claiming disadvantaged status any assets which that individual has transferred to an immediate family member, or to a trust, a beneficiary of which is an immediate family member, for less than fair market value, within two years prior to a concern's application for participation in the DBE program, unless the individual claiming disadvantaged status can demonstrate that the transfer is to or on behalf of an immediate family member for that individual's education, medical expenses, or some other form of essential support.
You can contribute to both a Coverdell ESA and a 529 college savings plan on behalf of the same beneficiary, as long as assets are not used to pay for the same qualified expenses.
Having the assets pass to the Henson trust circumvents this — a trustee is designated to act on behalf of the beneficiary.
We act for on behalf of a range of interested parties from Executors and Trustees who are dealing with estates / assets to beneficiaries and third parties.
The Trustee, on behalf of the trust, then writes a check to the Federal Government for the balance of the estate tax due and the remaining estate assets pass to the named beneficiaries in tact.