Sentences with phrase «name a beneficiary on»

For example, you can easily name beneficiaries on your own, title assets as joint tenancy with right of survivorship on your own, and even create your own trust using an online service such as Nolo.

You have a variety of options when it comes to naming a beneficiary on your life insurance policy.

Naming beneficiaries on financial accounts, and on deeds in states that allow that, can allow those assets to pass to heirs without going through probate.

In the event of the insured's death, a life insurance death benefit will be paid to the named beneficiary on the policy - provided a claim is filed.

Note: Naming beneficiaries on a retirement account does not increase deposit insurance coverage.

Being the named beneficiary on an RRSP account can also have tax benefits.

If you die, whoever you named beneficiary on your life insurance policy will get the death benefit or payout.

As an added bonus, if you name a beneficiary on the life insurance policy, the proceeds will bypass the estate.

And here is how the Per Stirpes / Per Capita issue becomes important in this case: what happens if the former spouse is the only named beneficiary on the account (no secondary beneficiary (ies)-RRB-, and the former spouse pre-deceases the account owner?

Naming beneficiaries on your registered accounts (such as RRSPs) and insurance policies ensures the money will be distributed to your heirs directly, which avoids the delay and costs associated with probate.

When purchasing these policies, the named beneficiary on the policy knows that they can use the stated proceeds to pay off certain expenses when the time comes that the insured passes away.

Now, in some instances, some people will deliberately name the beneficiary on their policies as their «estate».

Some states do have restrictions as to who may be named your beneficiary on a life insurance policy.

For instance, if three sons, all with families, are named beneficiaries on a per capita basis, and one dies, the deceased son's family receives no proceeds.

Contact True Blue Life Insurance at 1-866-816-2100 to discuss your options for naming a beneficiary on your life insurance policy.

First and foremost, you should name a beneficiary on your life insurance policy.

If you named a beneficiary on your enrollment when you applied for coverage, benefits such as those for Accidental Death and Dismemberment (AD&D) or Flight Accidents will be paid to that person if you die.

The policy will provide the named beneficiary on your policy with death benefits during the length of the term.

When setting up the donation, you should list the charity as the named beneficiary on your life insurance policy.

If you don't want your lender to be the named beneficiary on your policy, you can choose to shop for a term insurance policy.

In the event of the insured's death, a life insurance death benefit will be paid to the named beneficiary on the policy - provided a claim is filed.

If you die, whoever you named beneficiary on your life insurance policy will get the death benefit or payout.

Just as with an individual life insurance policy, group life may offer other features, too — often referred to as riders — that may be added on to the policy that provide additional benefits to either the insured or to the named beneficiary on the policy.

You have a variety of options when it comes to naming a beneficiary on your life insurance policy.

As the tax laws stand right now, you do not have to pay taxes on life insurance if you are named a beneficiary on the life insurance policy.

As mentioned above, if you are named a beneficiary on a life insurance policy you won't have to pay taxes on the insurance benefit.

If you die during your policy term and you have been paying your premiums, the named beneficiaries on your policy will receive a payout.

Step - children have no rights or interest regarding a step - parent's life insurance unless they are a named beneficiary on the policy.

All you need to do is name your beneficiaries on your policy.

However, if the insured lives beyond this two or three - year time limit, and then passes away many years later, the named beneficiary on the policy will be able to receive 100 % of the stated death benefit (unless there is an unpaid balance from a cash withdrawal or borrowing).

In this case, the named beneficiary on the no medical exam policy may only be able to receive back the amount of premiums that were paid into the policy (possibly with a small amount of additional interest), or a certain percentage of the stated death benefit.

This type of coverage is usually purchased in conjunction with a funeral home which will be the named beneficiary on the policy.

Not exact matches

See this month's ESOP Report to read about a new pro-ESOP bill, learn how to educate employees on the rights and responsibilities of being an owner, understand the issues when minors are named beneficiaries, see the list of nominees to the Board of Governors, and more.

Tax slips will be issued with the trustee's name and SIN, and will clearly indicate that the account is registered in trust for a beneficiary, whose name will also appear on the slip.

Planning Tip: There is nothing preventing a child from being named as the beneficiary on multiple accounts.

If your child does not end up going to college, you can either name a new beneficiary (different kid) or just pay the taxes on profits.

Retirement assets are transferred outside the normal estate planning process to «designated beneficiaries» named on each individual account.

It is important to note that the beneficiaries must be named on the IRA, otherwise assets will pass according to the rules of succession as outlined in the applicable Fidelity IRA Custodial Agreement and Disclosure Statement (PDF).

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.

The executive order in question, issued by President Clinton and affirmed by President Bush in 2002, states that while religious organizations that receive federal funds can not discriminate against beneficiaries of their programs, they «may retain religious terms in its organization's name, select its board members on a religious basis, and include religious references in its organization's mission statements and other chartering or governing documents.»

In consideration of being permitted to participate in any way in the ALL SPORTS SERIES AND CHICAGO SPORT & SOCIAL CLUB, INC. («CSSC») and its affiliates (CSSC and its affiliates are referred to collectively as the «CLUB»), the sufficiency of which consideration is expressly acknowledged, and intending to be legally bound, do hereby, for myself, my heirs, executors, administrators, insurers, assigns, attorneys, representatives, agents, beneficiaries, legatees, representatives, successors, assigns and any other persons who may make claims on my behalf (collectively the «RELEASORS») Program indicated below and / or being permitted to enter for any purpose any restricted area (here in defined as any area where in admittance to the general public is prohibited), the participant and the parent (s) and / or legal guardian (s) of the minor participant named below agree:

Lessen the impact of estate and generation - skipping taxes on a family's inheritance by naming Old Sturbridge Village as the beneficiary, thereby removing the asset from the donor's taxable estate.

Lessen the impact of income estate and generation - skipping taxes on a family's inheritance by naming Old Sturbridge Village as the beneficiary thereby removing the asset from the donor's taxable estate.

SHANGHAI (Reuters)- The Chinese government is set to issue a formal proposal to prompt consolidation among domestic infant formula firms, a state - run newspaper said on Friday, naming Inner Mongolia Yili Industrial Group as one of the likely beneficiaries.

The Committee has been mandated to find out details of the contract, number of units supplied, their mode of distribution and names of beneficiaries on a State by State basis.

When the list of beneficiaries was published by the New Patriotic Party (NPP) on 5th December 2016 at a press conference organised for the purpose towards the elections, I expected that Koku Anyidoho whose name appeared as having received GHS100, 000.00 and GHS13, 000.00 respectively on 1st and 10th May 2011 through Agricultural Development Bank cheques numbered 809090 and 809093 would sue for defamation to vindicate his honour.

When the list of beneficiaries was published by the New Patriotic Party (NPP) on 5 th December 2016 at a press conference organized for the purpose towards the elections, I expected that Koku Anyidoho whose name appeared as having received GHC100, 000.00 and GHC13, 000.00 respectively on 1st and 10th May 2011 through Agricultural Development Bank cheques numbered 809090 and 809093 would sue for defamation to vindicate his honour.

The Court upheld an application filed on Friday, November 4 by the former Minister of Justice to examine the embattled businessman to name beneficiaries of the GH cents 51.2 million judgement debt paid to him.

When Larry, a widower, learns he can not name his children as beneficiaries on his life insurance policy, he needs a big favor from Chuck: Sign on as Larry's domestic partner.

In that case, you can name a trust as your beneficiary so that an appointed conservator can receive and disburse the money on your behalf.