Sentences with phrase «note name another beneficiary»

Not exact matches

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).

Note: Make sure the provisions in your IRA allow beneficiaries to take distributions over their lifetimes and to name second - generation beneficiaries.

Also note that with a trust or POD account, the base FDIC insurance limit of $ 250,000 is multiplied by the number of beneficiaries; e.g., if you have 2 beneficiaries named on a POD account (CD, savings, checking, etc.), your account is insured up to $ 500,000.

Note that only a spouse can be your successor holder: if you want a child or other heir to receive your assets, they must be named as the beneficiary.

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

Note that if you name both a successor holder and beneficiary on a TFSA, the successor holder will override the beneficiary.

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.

Also worth noting that distributions to heirs at law, which is the formal name for people who take via intestacy statutes, are often inferior, at least in part, to the claims of creditors against your probate estate, although sometimes a family provision or «exempt property» or a joint tenancy or beneficiary designation, will have priority over a creditor's claims.

It is, however, important to note that if there is an unpaid balance at the time of the insured's death, the unpaid amount will be charged to the death benefit amount that is paid out to the named policy beneficiary.

Expanding on Barker's comments, it should be noted that beneficiaries indeed are paid out in the event of the primary beneficiaries» passing (prior to, or in conjunction with the named person), and are as important as a primary beneficiary when taking into consideration as to how one wishes for their policy to assist their family and loved ones after one's passing.

It is important to note that with this guaranteed issue policy, there is a reduced amount of death benefit paid out to the policy's named beneficiary if the insured dies within three years of purchasing the 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.

As noted above, you will pay tax on the earnings if you withdraw or borrow from the policy, but your named beneficiaries will receive the benefits income - tax free and without the time delay and expense of probate.

(It is important to note that, if a policy loan is not repaid at the time of the insured's death, the amount of the unpaid balance will be taken out of the death benefit that is paid to the named beneficiary).

However, it is important to note that if there is an unpaid balance in the cash component at the time of the insured's passing, then the amount of this balance will be charged against the amount of the death benefit that is paid out to the named beneficiary.

While is it not required that these funds are paid back, it's important to note any un-repaid balance in this account will count against the amount of the death benefit that is paid out to the named beneficiary at the time of the insured's death.

However, it is important to note that — depending on how long the insured has owned the policy — the full amount of the proceeds may not always be paid out to the named beneficiary.

Note that this is a fairly unusual situation, because normally when a beneficiary dies, a new beneficiary is named.

It is important to note, though, that if the insured has been covered for a longer period (i.e., he or she has lived beyond the length of the probationary time limit), then the full amount of the death benefit can be paid out to the named beneficiary.

- Note that some pages might lack names of beneficiaries as campaign organizers could be in the process of adding beneficiaries directly to the campaign.

Notes incorrectly drafted with your name as the beneficiary or owner can not be corrected after the close of the transaction and generally will be treated as boot and taxed as an installment sale note under Section 453 of the Internal Revenue Code.

The installment note and corresponding documents can not be drafted with your name listed as the beneficiary or owner.