Sentences with phrase «named the beneficiary of»

Your spouse could roll the money over into a new IRA and name a beneficiary of his or her own, who would also be subject to the required minimum distribution rule.

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.

He said naming the beneficiaries of the money would disabuse the minds of Nigerians of the conflict that Christians were the targets of incessant attacks by Fulani herdsmen.

Term life insurance is designed to provide death benefits to the named beneficiaries of the policyholder.

Typically, any person or entity can be named a beneficiary of a trust, will or life insurance policy, and the one distributing the funds, or the benefactor, can put various stipulations on the disbursement of funds, such as the beneficiary attaining a certain age or being married.

Most spouses who inherit an IRA simply roll it into their own IRA or start a new account in their name and name a beneficiary of their own.

The estate of the survivor should be named the beneficiary of the policy to provide liquidity necessary to pay for the tax bill.

Your spouse could roll the money over into a new IRA and name a beneficiary of his or her own, who would also be subject to the required minimum distribution rule.

Hi, I am a named beneficiary of a TFSA from my father.

If you are the named beneficiary of a spouse's life insurance policy and their death causes financial loss to you and your family, then you will likely receive the financial payout of their life insurance policy.

If you're considering a pre-need funeral insurance plan, you should first note that it's not actually legal in every state for a funeral home to be named the beneficiary of a life insurance policy.

Third - Party Fundraisers are great for groups or an individual who want to host or sponsors an event, such as a wine tasting or beef - n - beer where the profits or proceeds are donated to Faithful Friends; or in cases where Faithful Friends can be named the beneficiary of an existing reoccurring event.

Any person, aside from the grantor, can be named the beneficiary of the trust.

If the attorney is a named beneficiary of the will that would be a serious red flag.

Naming the beneficiary of a life insurance policy is an important decision that requires careful thought.

Death Benefit Only Plan — Where death benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's estate.

She can name the beneficiary of the insurance policy as herself and name you the beneficiary of those assets in her will.

They will have to undergo the health exam and complete the paperwork, the only difference is they will name you the beneficiary of the policy.

By making a charity the named beneficiary of your life insurance policy, the organization will be able to receive the face amount of the policy proceeds tax free.

The purpose of life insurance is not to protect the insured, but rather the named beneficiaries of the policy.

This can be done by naming the beneficiary of the policy as the owner as well.

Dear Insurance Adviser, My husband was named a beneficiary of his brother - in - law's life insurance.

If you're considering a pre-need funeral insurance plan, you should first note that it's not actually legal in every state for a funeral home to be named the beneficiary of a life insurance policy.

The key employee is able to name the beneficiary of the entire death benefit of the life insurance policy.

A collateral assignment is a legal document familiar to all lenders and in effect is a lien against the policy which guarantees insurance policy proceeds are first payable to the «assignee», in this case the lender, with the balance of proceeds going to the named beneficiary of the policy.

In this case, employees are able to name a beneficiary of their choice to receive the proceeds.

Beneficiary: the policy owner names a beneficiary of the death benefit.

Split dollar insurance: An arrangement between two people (often an employer and an employee) where life insurance is written on the life of one who also names the beneficiary of the net death benefits (death benefits less cash value), and the other is assigned the cash value (or equivalent amount of death benefits), with both sharing the premium payments (usually the noninsured paying a portion equal to the increase in cash value each year and the insured paying the balance of the annual premium).

Upon the death of the insured, the death benefit is then paid to the named beneficiaries of the ILIT.

That way, the loan is guaranteed to be paid back should your child pass away unexpectedly, as the parents would be named beneficiary of the life insurance.

If you are the named beneficiary of their life policies you do.

Term life insurance is designed to provide death benefits to the named beneficiaries of the policyholder.

The insured executive is the owner of the policy and able to name the beneficiary of the entire death benefit.

This is the actual named beneficiary of the policy.

Not exact matches

To avoid negative tax consequences, ask your CPA to help you decide whom you should name as the beneficiary of your policy.

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.

Actions that are considered Centennial Planned Gifts include making estate plans through a will or a living trust; creating a charitable remainder trust and naming the Business School as the remainder beneficiary; entering into a charitable gift annuity agreement with the School; naming Columbia as the beneficiary of a life insurance policy or retirement plan; or establishing a donor - advised fund at Columbia.

The donor receives an income stream from the trust for a term of years or for life, and the named charitable beneficiary receives the remaining trust assets at the end of the trust term.

A named charity receives an income stream from the trust for a term of years, and the remainder goes to the non-charitable beneficiaries.

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.

«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.

For example, this information may include your name, address, social insurance number, investment selection, beneficiary information, account holdings, financial situation and possibly your personal bank account information if you are signing up for certain account options that involve the transmission of money between your bank account and your account with us.

If you prefer to retain ownership of your policy and name the Foundation as beneficiary, your estate will receive a tax receipt for the proceeds after your passing.

Clients who don't name beneficiaries can lose much of the planning flexibility around these accounts, so it's important to make sure each separate IRA, 401 (k), 403 (b) or 457 account has a designated beneficiary.

For example, if your spouse named you as the primary beneficiary of his IRA, and your son as the contingent beneficiary, if you disclaim your IRA inheritance (meeting all the necessary requirements), your son would inherit all of the IRA assets.

Because you have chosen to name the Foundation as the beneficiary of a policy, there are no disputes about ownership of the policy proceeds.

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).

There are two ways to gift life insurance: You may name the Fraser Institute Foundation as either the owner, or as the beneficiary, of a policy.

If you name your four kids, for example, each would receive 25 % of the death benefit as your beneficiary.

Naming a charity as the beneficiary of your registered retirement savings plan or retirement income fund is easy to do and can be highly beneficial.