Sentences with phrase «of deceased owners»

The federal estate tax is a lump sum tax that is levied by the federal government based upon the value of the deceased owner's gross estate.

This would ensure that the remaining business owners have the funds to buy the company interests of a deceased owner at a previously agreed upon price.

Upon the death of a sole owner when the owner's estate is not being probated and is subject to small estate administration under the laws of the deceased owner's State of legal residence, you may reregister the account to the heir (s) by providing the following:

When an IRA account owner dies, the beneficiary (s) are eligible to re-title (or transfer) the account (s) as inherited IRAs in the name of the deceased owner.

As opposed to a joint tenant account, however, ownership is not passed over to the other tenant (s) at death, but is part of the deceased owner's disposable estate.

If your Collateral Account does not include a right of survivorship and one of you dies, the Collateral Account may, subject to the Bank's right of setoff and security interest, be paid to any survivor or to the personal representative, heirs or successors of the deceased owner even though not the last surviving owner.

Also, these pooches were sacrificed and buried next to the body of their deceased owner so that they could set out on their spiritual journey together.

Does a representative gain access in the place of the deceased owner or account holder?

For instance, a life insurance contract can be structured in such a way to ensure that the remaining business owners have the funds to buy the company interest of a deceased owner at a predetermined price.

This would ensure that the remaining business owners have the funds to buy the company interests of a deceased owner at a previously agreed upon price; this arrangement allows the owners to keep the business while the family still gets the money.

Can the firm continue successfully with the addition of the deceased owner's heirs as new owners?

This would ensure that the remaining business owners have the funds to buy the company interests of a deceased owner at a previously agreed upon price; this arrangement allows the owners to keep the business while the family still gets money.

The beneficiary can use the benefit received to pay the estate of the deceased owner an amount that is equal to the value of his or her business interest.

• The family of the deceased owner receives income from the life insurance death benefit payout while preventing those family members from becoming inadvertent business partners unless those were the wishes of the deceased partner.

The interest in property of the deceased owner simply evaporates, and can not be inherited by his or her beneficiaries.

Not exact matches

«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.

Another feature of the Senate bill would be to make changes to the estate tax, a levy placed only on very large estates when they're inherited from their deceased owner.

When property is owned jointly with right of survivorship, the property rights of the deceased are transferred to the other owners (not to the deceased person's heirs).

Regardless of whether they are the sole legal owner of the deceased's data — and irrespective of whether the opinion of their next of kin, with regulation, DAI firms would have to abide by certain conventions, such as, preventing hate speech and the commercial exploitation of memorialised profiles».

In the 1920s, a London solicitor named Arthur Kipps is sent north to a grim, moist residence known as Eel Marsh House in order to settle the affairs of its recently deceased owner.

Browns» general manager Sonny Weaver Jr. (cinematic lunesta Kevin Costner) has got problems: On one of the biggest days of his professional career (NFL draft day), his girlfriend Ali (Jennifer Garner) announces she's preggo, his demanding mother Barb (Ellen Burstyn) wants to spread his recently deceased father's ashes on the practice field, and his team owner boss Anthony Molina (Frank Langella, who doesn't take his sunglasses off at all during the film) wants to fire him if he doesn't choose wisely.

The Girls Trip star accepted her best - supporting - actress prize from the New York Film Critics Circle around the halfway point of the N.Y.F.C.C. gala, after a tribute from Sony Pictures Classics co-president Michael Barker to the recently deceased Lincoln Plaza Cinemas owner Dan Talbot, and before Jane Pauley handed the best - picture prize to Greta Gerwig for Lady Bird.

However, that small visit ends up being longer than they anticipated when it is discovered to be haunted by ghosts who don't want them to leave, as it seems Sara is of particular interest to the mansion's current owner for resembling his deceased lover.

Noonan's cover features an image of Gronkowski that not only did the author not have permission to use, but also dips so far into the realm of low - class as to have a patch in honor of the team's owner's recently deceased wife located prominently on his jersey.

You have the same two withdrawal choices we just noted, plus a third option that's only available to a beneficiary who is the spouse of the deceased IRA owner.

Though some similarities exist, the applicable rules are dependent on whether or not the new owner of the account was married to the deceased.

I do not think the equal share concept is valid, even if the goal is to maintain family harmony; since often the beneficiaries are adult children they should be able to restrain their greed and envy, and respect the decisions of the deceased trust owner (s, proably their parents and / or grandparents.

In the absence of instructions from the deceased, a funeral director will ask at least a hundred questions, says Scott Macleod, owner of York Funeral Home in Fredericton and vice-president of the Funeral Service Association of Canada.

When a spouse is an owner or a co-owner of property at the time of his death, then a deed of conveyance may be necessary to convey the deceased spouse's title to the surviving spouse.

This is because only assets that are owned by the deceased estate owner are deemed part of the estate tax calculation at time of death.

Tax experts estimate that failure to claim the Income in Respect of Decedent (IRD) deduction can result in a tax rate of 80 % or more on the inherited amount, broken down to a combination of estate taxes paid by the deceased IRA owner and federal / local state taxes paid by the beneficiary who inherits the assets after the death of the IRA owner.

However, if the deceased IRA owner filed IRS Form 706 (United States Estate and Generation - Skipping Transfer form), the beneficiary might be eligible for a federal tax deduction for the total amount of estate taxes listed on form 706.

form of joint ownership of an asset in which ownership can be unequal and one owner's interest can be sold, mortgaged, or willed without the consent of the remaining owner (s); there is no ability to name a beneficiary, so interest in these assets will always fall under the deceased owner's will

Term life insurance can be used to fund buy - sell agreements so that on the death of a business owner, surviving partners can use the proceeds to purchase the business from the deceased owner's beneficiaries.

The deceased's executors don't designate a beneficiary by Sept. 30 of the year after the year of the IRA owner's death.

«In the case of a deceased IRA owner who has been withdrawing required minimum distributions (RMDs), the beneficiary will be required to continue the same RMD schedule until the end of that calendar year.

If you are involved in a business with a partner, it's possible that you have a buy / sell agreement in which each business owner purchases a life insurance policy on the other owner and then uses the death benefit to buy out the deceased owner's share of the business.

This is a contract among the owners to buy a deceased owner's share of the business at an agreed upon price in the event of death, disability, or retirement.

A key distinction and benefit to a joint tenancy is that real property passes outside of probate, whereas a tenancy in common will require a probate for the deceased owners undivided half interest.

A surviving owner, co-owner, or beneficiary wants to remove the name of a deceased person and have the bond reissued in the survivor's name alone or in the survivor's name with another person as a co-owner or beneficiary.

Any sums in a joint account may be paid, on request, to any owner without regard to whether any other owner is then incapacitated or deceased or whether the account includes a right of survivorship.

They all have stories about a dog that sleeps on the grave of another family pet, or will not give up a toy that belonged to a deceased pet, or maybe clothing from a dead owner being faithfully guarded.

Many owners of pets stricken after consuming Menu Foods» product have considered filing lawsuits against the company, but are encountering difficulties with the valuation of the deceased pets.

Upon their return, Hughes» husband told at least some of the owners of the deceased dogs that their pets had run away — another inconsistency MaLeisa Hughes attempts to explain in this June 23 meeting outside the kennel with the news media.

Background: At the mere age of one Jack was found alone, scared, and malnourished at home beside his deceased owner.

For the next 30 + years, BHS would patrol the nearly 600 miles of Baltimore County roadways, collecting deceased animals, operating the early licensing programs, and helping reunite owners with lost pets, among many other tasks.

In regularly donating to The Center's Close at Heart Fund and participating in our pet loss support services, the doctors and staff at Midlothian Animal Clinic commemorate deceased pets and communicate their caring and compassion for owners grieving for the loss of a beloved pet.

When a pet's owner passes, the animal will likely go to a municipal facility or other shelter if prior arrangements are not made with friends or family of the deceased.

Upon the death of one owner, the surviving co-owner (s) acquires the interest of the deceased co-owner regardless of the provisions of the Will.

Whilst the creators of the portraits themselves (and, therefore, the owners of their copyright) are long deceased, the case concerns the gallery's photographs of the paintings, which it argues have separate and active copyright.