Sentences with phrase «behind naming a beneficiary»
Simply put, the objective behind naming a beneficiary is to ensure that your assets will go where you want them to when you die.
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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.
Provides income tax - free money to your named beneficiary (s) that can be used to pay funeral expenses, debt, tuition, estate taxes or virtually any financial need you leave behind.