Sentences with phrase «deceased beneficiary»

In a province where the spouse has the right to claim, such as B.C., and the person making the gift does not want the spouse to benefit, Cochrane suggests he or she «should include a specific clause in their will stating that the inheritance and any growth in the inheritance is not to be shared with the deceased beneficiary's spouse.»

Using the example above, the policy proceeds would be split equally between the three remaining beneficiaries rather than 50 % going to the surviving beneficiary and 25 % each going to the two heirs of the deceased beneficiary.

Per capita: This method, which means per head, allocates your proceeds equally to each surviving beneficiary or heir of a deceased beneficiary.

If the account were to be split Per Stirpes, the two remaining beneficiaries would each receive a 1/3 share, and the beneficiaries (or the estate) of the deceased beneficiary would receive the remaining 1/3 share.

This wording pays a deceased beneficiary's share of the death proceeds to the children of the deceased beneficiary in equal shares.

This wording pays a deceased beneficiary's children equal shares of the entire death proceeds.

The method of determining how a gift will be distributed, especially if a beneficiary is dead, namely, in equal shares to the deceased beneficiary's surviving children, with the share of a deceased child distributed, in turn, in equal shares to that deceased child's children, etcetera.

This wording pays a deceased beneficiary's share of the death proceeds to the children of the deceased beneficiary in equal shares.

This wording pays a deceased beneficiary's children equal shares of the entire death proceeds.

Comparatively, using per stirpes will keep payments to the members of the designated class static regardless of whether one of its members dies; the amount that would have been paid to the deceased beneficiary will be given to the beneficiary's family members.

Practically speaking this means that the amount of the death benefit earmarked to the deceased child will now be broken up evenly amongst any children of the deceased child, aka the grandchildren of the insured who were offspring of the deceased beneficiary.

Using the example above, the policy proceeds would be split equally between the three remaining beneficiaries rather than 50 % going to the surviving beneficiary and 25 % each going to the two heirs of the deceased beneficiary.

Per capita: This method, which means per head, allocates your proceeds equally to each surviving beneficiary or heir of a deceased beneficiary.