Sentences with phrase «heirs after they pass»

One such way would to have enough of a life insurance policy that it would cover any debts that fall to your heirs after you pass.

These final expense plans are great for anyone that no longer has a need for a traditional life insurance plan, but don't want to burden their loved ones with their unpaid bills after they pass away, or want to leave a little extra to their heirs after their passing for any expenses that may pop up that weren't planned for.

Many people buy life insurance because it pays a benefit to their heirs after they pass away.

Not exact matches

Specifically, Hunt recommends a survivorship - whole life or - universal life policy, more commonly called a second - to - die policy, since it pays out to heirs only after both parents pass away.

It is only assessed on property, stocks or other assets worth more than $ 5.49 million ($ 11 million per married couple) when they are passed on to heirs after the owner dies.

After reviewing the theories of Malinowski, Freud, Girard and others on the role of fatherhood, Steinmetz uses the story of Oedipus to illustrate the problem; a father wants to insure immortality by passing on all of his «self» (both material and cultural) to an heir, but in so doing insures his own mortality and displacement.

Though unhappy when Odin (Anthony Hopkins) passes him over as heir to the throne, Hemsworth's brother Loki (Tom Hiddleston) joins him and a handful of other deities as they raid the realm of some frost giants after they break an uneasy peace with the Asgardians.

Unfortunately, in an effort to conceal past sins, misdemeanors and maybe even felonies, a proper comprehensive personal property appraisal had never been conducted after the last remaining heir had passed away.

Even though the borrower doesn't have to pay the loan back as long as she remains in the home, when the loan does become due — after she passes away, for example — the heirs must pick up the tab.

If you have an Individual Retirement Account (IRA), 401 (k) or Health Savings Account (HSA), your estate planning should include not only designating who would benefit from those accounts after you pass away, but also understanding the tax impact of leaving money to your heirs in this way.

The first time many heirs know anything about a reverse mortgage is when the Servicer mails a «repayment» or «due and payable» letter to the Borrower and heirs just days to a month after a borrower has passed away.

You can pass your account funds on after you die, and «heirs get to receive this money in annual or lump - sum distributions in the same tax - free way that you would have,» writes financial planner Frances St. Onge at All Things Financial Planning Blog.

Heirs are not given a very long period of time to pay the estate taxes that are due after you pass away.

After deducting the outstanding loan amount, the remaining money is passed to the legal heirs.

The savings grows on tax deferred - basis, and you can tap into the funds during retirement or leave the funds in the account so they pass on to your heirs after you die.

Life insurance is a popular way for the wealthy to maximize their after - tax affluence and have more money to pass on to heirs.

After a borrower passes, heirs take over the responsibility of repaying the remaining reverse mortgage loan balance.

When the investor passes away his or her heirs will receive a step - up in cost basis equal to the fair market value of the property as of the date of his or her death, or the heirs can elect an alternate valuation date six months after the date of his or her death.