Sentences with phrase «name minor children»

One method to avoid this mistake is to name minor children or impaired individuals as beneficiaries of a trust and then name the trust as the beneficiary of the life insurance policy.

Don't name minor children as beneficiaries.

Hyde says a will or life insurance policy should never name a minor child as a direct beneficiary.

Never: Never name your minor child as a beneficiary of your life insurance policy because a minor can not inherit money and as a result it will be put in a blocked account that they can not access.

Instead of naming a minor child as a beneficiary, set up a trust that benefits the child and name the trust as the beneficiary of the policy.

If you name your minor child as the beneficiary, however, you must understand how this will affect your family.

However, don't name a minor child to be beneficiary.

Q: Can I name my minor child as a beneficiary?

Not exact matches

«Today Cardinal Dolan had the long - awaited opportunity to talk about his decision nine years ago in Milwaukee to publicize the names of priests who had abused children and how he responded to the tragedy of past clergy sexual abuse of minors, during the time he was privileged to serve as archbishop of Milwaukee,» Joseph Zwilling, a spokesman for the Archdiocese of New York, said in a written statement.

We are not powerless and fearful, not us: and so I pray and I work; I make coffee in the morning and hot meals to gather around the table at suppertime; I worship and sing out words of promise and praise; I raise children and read good books; I pray for my enemies and write letters and send money and show up to fold clothes and drop off meals with an extra bag of groceries; I advocate with the marginalized and amplify the oppressed and antagonize the Empire with a grin on my face; I will honour those who get after the work of the Kingdom and celebrate; I learn how to listen to those with whom I disagree; I abandon the idea that we can baptize sinful practices in the name of sacred purposes; I will stand in the middle of the field near my house with my face turned up to the rain and consider it a minor baptism.

A parent might request a name change for a minor child to protect the child from potential harm.

It must be written in English and needs to state the name, birth date, age of the minor child.

She points to signs that might be commonplace in some schools but are minor miracles here: children naming math as their favorite subject, or discussing the many books they've read in their free time.

Notwithstanding the provisions of s. 985.04 (7) or any other provision of law to the contrary, a law enforcement agency shall, within 48 hours, notify the appropriate district school superintendent of the name and address of any employee of the school district who is charged with a felony or with a misdemeanor involving the abuse of a minor child or the sale or possession of a controlled substance.

If they're a resident spouse, resident relative, or a minor child for whom you're responsible and who resides with you, coverage extends to those people under the definition of named insured per the policy document.

You can open a mutual fund account designated for your child's education either in your own name or in your child's name in a Uniform Gift to Minors account with you as the trustee.

The logic behind this is that a minor child can't contract, so if they weren't included in the definition of named insured there would be no way to cover them at all.

Anyone can establish an account for a child simply by making a donation, naming a minor as account beneficiary, and appointing a custodian.

A parent or grandparent can use a Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) account (i.e., «custodial» account) to save for a child, but the child named on the account would gain control once he or she reaches a specified age.

People often buy life insurance to protect the financial wellbeing of their children, but it's not advisable to name minors as beneficiaries.

A trust can be named beneficiary in order to protect minor children, but there may be tax consequences, so make sure you talk to your financial professional.

Therefore, minor children are not allowed to own certain types of assets in their own name.

Instead, you typically name spouses, trusted relatives, or trustees who will manage the death benefit on behalf of your minor children.

Life insurance death benefits do not go through probate (unless you name your estate or a minor child as your beneficiary — don't do this) so your beneficiaries will receive the funds much quicker.

A Will also allows you to name who will be in charge of carrying out your final wishes (Personal Representative) and also allow you to name someone to care for your minor children (Guardian nomination).

He can invest in other equity mutual funds (in the name of minor kid) instead of child oriented MFs.

It enables you to control the distribution of your estate (and often is used to name a trustee for assets left to minor children), but it does not avoid probate.

Then, name a trust as your policy beneficiary to ensure that your minor child will receive the financial benefits you intend for them.

Designation of the Caregiver: Just as with naming a guardian for your minor children, you should name a primary caregiver and an alternative caregiver.

Simply put, a Will allows you to name a guardian for your minor children.

If there are any minor children involved in the divorce, each child's name, Social Security number, age and address need to be included in the petition.

In order to access the Site and Services, you represent and warrant that you are at least eighteen years of age and possess the legal right and ability, on behalf of yourself or a minor child of whom you are a parent or legal guardian, to agree to these Terms of Use, register for the LexMeet Services under your own name and to use the LexMeet Services in accordance with this Terms of Use and abide by the obligations hereunder.

Men who believe they have been wrongfully named as the father of a minor child and want to challenge a designation of paternity

Be prepared to answer questions such as who you will name as your beneficiaries, who you will appoint to handle your financial affairs if you can not, or who will raise your minor children if both you and your spouse die?

These include Sex Change forms for an adult, Sex and Name Change forms for an adult, and Sex Change forms for minor children.

The complaint includes the full names and birth dates of plaintiff, the defendant and all minor children of the marriage, the dates of marriage and separation, the grounds for the separation, a statement regarding residency and a brief description of remedies sought.

Instead, you should set up a trust to benefit the child and name the trust as the beneficiary of the policy, or name an adult custodian for the life insurance proceeds under the Uniform Transfers to Minor Act (UTMA).

If they're a resident spouse, resident relative, or a minor child for whom you're responsible and who resides with you, coverage extends to those people under the definition of named insured per the policy document.

However, in the event that both parents unexpectedly die at the same time (e.g. a car accident) while their child is still a minor, a court - appointed guardian will need to be named and will have control over the death benefit proceeds until the child is a legal adult.

People often buy life insurance to protect the financial wellbeing of their children, but it's not advisable to name minors as beneficiaries.

Two other equally important purposes of the will include naming the person who will manage and settle your estate, and naming a legal guardian for your minor children or dependents with special needs.

Instead, it's best to set - up a trust to benefit the child and name the trust as the beneficiary of the policy, or name an adult custodian for the life insurance proceeds under the Uniform Transfers to Minor Act.

Children are commonly named as contingent beneficiaries with a trustee should they be minors in the event of a payment» She further adds, «Naming the «estate» as a beneficiary or contingent beneficiary may also not be the best idea as this then renders the funds back into probate».

After you set up a trust for your minor children, you can name the trust a beneficiary of your life insurance policy.

Then, name a trust as your policy beneficiary to ensure that your minor child will receive the financial benefits you intend for them.

But if both parents die and a minor child is named as a contingent beneficiary, or if a single parent names a child as a beneficiary, matters can get complicated.

Life insurance death benefits do not go through probate (unless you name your estate or a minor child as your beneficiary — don't do this) so your beneficiaries will receive the funds much quicker.

However, if the children are still minors then an adult custodian would need to be named instead.

However, there are additional considerations if you plan to name a child or grandchild as a Beneficiary, and if the child is still a minor (younger than age 18) at the time that Gerber Life receives the insurance claim.

Creating a trust or naming a guardian to receive funds dedicated to a minor beneficiary is necessary for an insurance company to release funds for the child's benefit.