Sentences with phrase «financially dependent children»

Example: If you have an infirm financially dependent child or grandchild, you should consider if any changes need to be made, either in your will or by way of beneficiary designations, to accommodate this new rule.

There are exceptions, however, which may allow a tax - deferred rollover to certain beneficiaries, such as a surviving spouse or partner or in some cases, a financially dependent child or grandchild.

Not exact matches

Whether you need term life insurance is typically dependent upon whether you have dependents, such as children or a partner, that would be in a financially challenging situation should you pass.

Children over 18 years old must be financially dependent on the deceased to be considered a dependant.

Adult children can only receive an income stream if they are under 25 years old and financially dependent on the deceased or have a permanent disability.

Do you have children that could be financially dependent on you in retirement?

Many children are still financially dependent on their parents for helping out with things like student loans, cars, rent, health insurance and more.

To illustrate, say you are married, have three children but also have a financially dependent brother.

In that light, in India, retired people are the biggest class of financially independent folk (unless they are dependent on money from their children).

At death, the parent or grandparent is able to roll over their RRSP or RRIF to an RDSP of an eligible individual (child or grandchild) who was financially dependent (due to their infirmity) on the deceased at the time of the deceased's death.

Children over 18 are not automatically considered to be financially dependent, so they may pay tax on your death benefits.

20 year term is commonly used by young families seeking mortgage and family protection while children are still financially dependent.

If you become financially responsible for your parents, you may be able to claim them, as well as your children, as dependents on your tax returns.

In this respect, it is important to consider who has custody of the child and on whom the child is legally, financially, or emotionally dependent (see also O and S, para. 56).

If you and your spouse don't have any minor children (meaning, kids who are financially dependent on you and who aren't legally emancipated), you need to use the Divorce Forms for Self - Represented Parties Without Minor Cchildren (meaning, kids who are financially dependent on you and who aren't legally emancipated), you need to use the Divorce Forms for Self - Represented Parties Without Minor ChildrenChildren.

However, in the present case, the Finnish children were not «legally, financially or emotionally dependent» on their step - fathers.

A spouse is financially dependent and being starved out and not getting spousal or child support — you can't sit there and try to negotiate, they're in dire need of support.

The Respondent essentially fled Nova Scotia to live with her child in BC, whom she was financially dependent upon.

Children who are 22 years of age or older and who are unable to be financially self - supporting due to a physical or mental condition will continue to be considered dependent cChildren who are 22 years of age or older and who are unable to be financially self - supporting due to a physical or mental condition will continue to be considered dependent childrenchildren.

Post-separation, parents are legally obligated to financially support their dependent children, and are required to comply with support orders pursuant to a written agreement or court order.

It should also be noted that if a step - child was treated as a child of the family by a married step - parent, or was financially dependent on a step - parent who has died, and there is either no or inadequate provision on the death of the step - parent, s / he can potentially make an application to the court under the Inheritance Act (Provision for Family and Dependants) Act 1975.

Anyone who was in some way financially dependent on the deceased at the time of death may be able to make a valid claim, so that also applies to children outside marriages, cohabitees and even mistresses.»

While many people may feel that life insurance is no longer necessary once an individual no longer has dependent children, the reality is that this type of coverage can be necessary at any age — and regardless of whether or not you have any dependents who are counting on you financially.

The child must also be financially dependent upon the insured, and be at least 15 days old and not yet 23 years old.

Although your children may no longer need your financial support, you may have other dependents like a spouse who rely on you financially.

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They're usually when people have dependents who rely on policyholders financially — things like getting married, buying a house or having children.

If you have a spouse, children or other dependents who rely on you financially, it is particularly important that you consider obtaining a Lowell, MA life insurance policy.

Financial dependents may include a spouse, children, parents or a sibling that you provide for financially.

We often think of «dependents» as children, but they're not the only ones who may rely on you financially, so it's possible that you could still need life insurance.

«When discussing the financial aspects of a divorce or a break - up, insurance considerations should be a key component in ongoing and final decisions,» said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I. «Dividing up property, changing homes, and altering life insurance policies must be discussed to make sure that both parties, as well as children or other dependents, are financially protected after the separation is completed.»

20 year term is commonly used by young families seeking mortgage and family protection while children are still financially dependent.

Many children are still financially dependent on their parents for helping out with things like student loans, cars, rent, health insurance and more.

Dependents can be children, a significant other, parents, or anyone else who financially relies on you.

After all, life insurance is best known for protecting your client's family, particularly during their working years when children are younger and financially dependent.

Parents, spouse, children, and all our other dependents need to stay financially secure in our absence.

How long your children will be financially dependent on you?

Some planners recommend you buy life insurance for a term that ends when your children are expected to have graduated from college and are no longer financially dependent on you.

To illustrate, say you are married, have three children but also have a financially dependent brother.

But if you have a spouse, children, or other dependents that would suffer financially if you were no longer around, then basic work term policies are generally not sufficient.

When an adult child has special needs and is emotionally, financially and physically dependent on a parent or caretaker, planning for their future with life insurance is a must.

In case of your demise, the pensions will stop and then your spouse and dependent children will be financially unstable.

As soon as the children become financially independent, you won't need to pay for the plan plan and the beneficiaries will be dependent upon your contributions.

Studies of domestic violence victims in shelters have shown that the women most likely to return to their abuser have children and are financially dependent on their partners (read more about this research here).1 But less is known about individuals in dating or cohabitating relationships who have financial independence, a fairly good education, but a lousy style of relating with their partners that could be construed as downright aggressive.

Usually these cases commence when fathers, especially fathers with money, get their anger played upon by their lawyers, and the fathers seek «equal timesharing» or joint custody from mothers who before that were the parent who did the most parenting (often the financially dependent parent), and the fathers are at risk for paying high child support or alimony or are just feeling unappreciated and insulted.

Fortunately for me, my children started coming around soon after they finished college (read that, no longer financially dependent on their father).

Funds raised at this event for the Royal LePage Shelter Foundation will benefit Halton Women's Place, an organization that provides shelter and crisis services for physically, emotionally, financially and sexually abused women and their dependent children.