Sentences with phrase «named beneficiary in»

Or, what if the policy owner never named a beneficiary in the first place?

Cash Refund Annuity Income Payment Option Any type of income annuity that guarantees should the annuitant die prior to receiving payments equal to the premiums paid, the difference will be refunded to the named beneficiary in a lump sum.

In its most basic sense, funeral insurance actually works in a similar fashion to most other types of life insurance in that a person pays a premium to an insurance company in exchange for the payment of a death benefit to a named beneficiary in the case of the insured's death while the policy is in force.

If the estate is the beneficiary on an RRSP and then you are named the beneficiary in the will you can still use this advantage, however, the tax will be due and you will have to apply for a refund of the taxes with the CRA which will be a much longer process.

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.

Naming a beneficiary in a life insurance policy or leaving a bequest in a will only provides for cash after death, so it may not be the answer for everyone.

If I name my spouse as the succesor holder, do I need to name some beneficiaries in case we both die at the same time?

Cash refund options are also available to insure that all monies, plus interest, are returned to named beneficiaries in the event of an early death.

You may name beneficiaries in your will, insurance policy, retirement plan, annuity, trust or other contracts.

The Trustee, on behalf of the trust, then writes a check to the Federal Government for the balance of the estate tax due and the remaining estate assets pass to the named beneficiaries in tact.

Find out more about naming a beneficiary in our article Who Will You Name as Your Life Insurance Beneficiary?

When naming beneficiaries in order as such, the first beneficiary is known as the primary beneficiary, and the beneficiary (or beneficiaries) that is next in line is known as the secondary beneficiary.

Not exact matches

«They'll indicate in their will that they want their assets divided equally among their three children, but then they go and name one child as the beneficiary to their IRA account and another to their house or a joint bank account.

Since estate taxes are assessed only when bequests are left to someone other than a husband or wife — most commonly, when estates pass, after parents» death, to the children — it's smart to buy enough second - to - die coverage in the name of the beneficiary to pay off future estate - tax bills.

«A ruling by a Louisiana appeals court recently stated that the entire death benefit from a single premium annuity plan paid to the beneficiary named in that plan was subject to inheritance tax because it was part of the deceased annuity owner's estate,» says annuities specialist Steven Hart.

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.

Note that any requests made independently by an adult beneficiary will result in the account being transferred into their name, to ensure appropriate tax and account activity reporting.

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 would not be included in your estate for other purposes, such as paying creditors, unless you named the estate as beneficiary or all your beneficiaries passed away.

In addition to a primary beneficiary, it's important to name a contingent beneficiary who would receive the assets if the primary beneficiary is unable.

What is being planed for the long run and who could be or made to look as the only beneficiary out of such acts separating between God believers and igniting fires for achieving long wars in the name of Religions and only to prove that religion is the headache and mother of all crimes.

May we be beneficiaries of God's mercies in our daily lives in Jesus name.

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.»

Realizing that such an award would be rejected out of hand by a judge, Sparks moderated her demand, and Payton agreed to contribute $ 5,550 a month in child support, establish a $ 175,000 college trust fund and purchase a $ 1 million life insurance policy naming the child as beneficiary.

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 agreIn 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 agrein 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 agrein 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 agrein 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 agrein 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:

The dedication included an appearance by Hofflander, who also named the park district a beneficiary in his will.

A bequest naming the Waldorf School of Princeton as a beneficiary in your will is the simplest form.

Learn more about naming the Foundation as a beneficiary in a will, a retirement plan, trust or financial account.

In the amended charges coming barely one year to the general elections, names of prominent politicians from the opposition party were listed as beneficiaries of the alleged diversions

I am not mentioned as an individual beneficiary and therefore find it mischievous and malicious that my name featured prominently in the aforementioned headline.

In the amended charges coming barely one year to the general elections are names of prominent politicians from the opposition party are as beneficiaries

Apart from individuals, corporate organisations were also named as beneficiaries in the new charges and they include AMP Solar Service, Afro - Arab Investment, Bam Project and Projecties Limited, Bob Oshodin Organisation Limited, Wehsac Farms Limited, Wehsac Limited, Dimaris Mode Coolture Limited, First Aralac Global Limited, Stellavera Development Limited, Jawaz Multi-purpose Venture Limited, Little Italy Global Services Limited, Belsha Nigeria Ltd and Syvan McNamara Limited among others.

Perea was named in that report as one of the biggest beneficiaries of the lucrative committee assignments.

From what I can deduce, PEGASE has names and addresses (and in the case of CSP beneficiaries salary) of the almost 100,000 Palestinians recieving aid.

Aside the five defendants, prominent politicians were named in the charge as beneficiaries of the alleged Public fund diversion.

To Labour laughter, he added: «This must be the only tax change in history when the people proposing it — the opposition leader and the shadow chancellor — will know by name almost all of the potential beneficiaries.

Pamela Tanner, a counselor in Onondaga County, said she told investigators that when first asked in 2010, she told the veteran's wife not to name her as a beneficiary, then learned of the bequest in 2011 after both died.

Gustave is named as a partial beneficiary of the will — his gift is a painting named «Boy with Apple» — and the family (composed primarily of Adrien Brody and Willem Dafoe, both in full psychotic mode, especially the latter) objects.

The van travels around the city to provide broadband internet access, and one beneficiary, a single mother of four living in the Bronx named Marsha Robinson, shared that the initiative helped her earn an associate's degree in applied science.

Then education secretary Nicky Morgan named five «top performing» academy sponsors as beneficiaries of the funding, and tasked them with «improving performance for pupils in some of the most challenging and disadvantaged areas of the country».

Under the third option, you can elect to treat the IRA as your own IRA by rolling the money over to an existing IRA in your name or by re-titling the IRA to show you as the account owner (rather than the account beneficiary).

You can also designate a trust in the child's name as the beneficiary, and the fiduciary in charge of the trust will pay out the benefit when the child becomes eligible.

Put another way, probate assets are generally those you own alone in your name, while nonprobate assets generally consist of assets you no longer have legal title to (i.e. trust assets), assets that will pass automatically upon your death (i.e. beneficiary designation), and assets owned jointly with others (i.e. joint tenancy with right of survivorship).

For most people (including myself) a spouse is usually named a beneficiary to ensure that the funds can be transferred easily to the spouse in case the RRSP holder passes away.

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.

Beneficiaries that can not make the mortgage payment but wish to keep the family home have the option of refinancing and taking out a new mortgage in their own names.

You can name multiple beneficiaries and determine how much of a stake in the payout each one gets.

Beneficiaries are either named specifically in these documents or have met the stipulations that make them eligible for whatever distribution is specified.

Although the contingent beneficiary is named in the life insurance policy, he or she won't receive a portion of the death benefit if any of the primary beneficiaries are still alive.

But keep in mind that there's not much tax incentive to put a large amount of investments in a child's name anyway, and one of the best ways to save for college today is a 529 plan that names the future student as the beneficiary, not the owner.