Sentences with phrase «primary beneficiary for»

It is common for a lender, bank or other entity to ask a business owner to take out and maintain a life insurance policy and name the lender as a primary beneficiary for the debt (payoff schedule is usually attached to the assignment), as a condition of the loan until the loan is repaid.

For example, Cheryl lists her husband John as primary beneficiary for her life insurance policy and their two children as contingent beneficiaries.

The most important and difficult aspect in drafting this type of trust is to make sure that no one who is older than the minor or the other primary beneficiary can ever receive any of the required minimum distributions that have been paid to the trust, but not then subsequently distributed to the minor or the other primary beneficiary for his or her benefit.

Not exact matches

Tax deductions for entertainment expenses can also extend to the primary beneficiaries of an organization.

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.

When your primary asset is your home, which it is for so many people, you don't wan na have your beneficiaries have to sell the home in order to raise funds to pay the estate tax.

[2] Mainstream organizations are defined here as those working in different projects, without a focus on disability — as opposed to disability focused NGOs, which usually implement (or partner with local organizations for that purpose) different types of projects, with persons with disabilities as their primary beneficiaries.

Also, while Medicare is a supplement to Social Security, it is the primary health insurer for its beneficiaries, which is in turn supplemented by private supplemental health insurance plans.

The net effect of this not - thought - through policy is that, in many cases, children from rich and affluent homes who attend some of the best private schools for their primary education will be the beneficiaries of this scholarships, and children of less endowed schools and remote villages and towns will be disadvantaged.

Increasing reimbursements for office visits may facilitate access to primary care among Medicaid beneficiaries, and thereby increase the likelihood of receiving appropriate cancer screening tests.

Finally, the authors found that the rate of growth in mental health conditions as a primary diagnosis was significant among the uninsured, Medicare beneficiaries, and the privately insured, showing the emergency department is also serving as a place of care for patients with mental illness.

To succeed, the struggle for sustainable development must rely on the decisive participation of youth who would be the primary beneficiary of a future world free of barbarism that would result in maintaining the current development model.

The London boroughs are the main beneficiaries of # 600m additional funding for primary school places.

Make Way for Books is honored to be the primary beneficiary of the Tucson Classics Car Show presented by Rotary Club of Tucson.

For example, a primary beneficiary receiving $ 1,000 per month for 10 years means a contingent beneficiary receives payments the same wFor example, a primary beneficiary receiving $ 1,000 per month for 10 years means a contingent beneficiary receives payments the same wfor 10 years means a contingent beneficiary receives payments the same way.

For example, Sarah lists her children's stepfather Alex as primary beneficiary and her favorite charity as contingent beneficiary for her life insurance proceeFor example, Sarah lists her children's stepfather Alex as primary beneficiary and her favorite charity as contingent beneficiary for her life insurance proceefor her life insurance proceeds.

For example, two children of an insured may both be listed as primary beneficiaries.

For this reason, it is generally advisable to select both a primary and contingent beneficiary on a life insurance policy.

Use this form to name Primary or Contingent Beneficiaries for any Fiduciary Trust Inernational of the South (FTIOS) retirement account.

An example of a tertiary beneficiary for life insurance would be if you name your wife as the primary beneficiary, your son as the secondary beneficiary, and your son's daughter, your grandchild, as the tertiary beneficiary.

When your spouse is the sole primary beneficiary and is more than 10 whole years younger (meaning 11 years or more, not 10 1/2 for example) than you the IRS Joint Life Table can be used to determine the divisor.

John has now completed the first two steps in the stretch IRA process: not using IRA money he doesn't need and naming primary and contingent beneficiaries for his account.

For example, if your spouse was your sole primary beneficiary and you both died in a car crash, your contingent beneficiaries would be able to claim the death benefit.

It explains when a trust beneficiary is treated as a primary producer for the purpose of the primary producer income averaging and farm management deposit (FMD) rules.

Contingent beneficiaries, or secondary beneficiaries, are the people that would receive your life insurance proceeds in the case that all of your primary beneficiaries died or were for some reason unable to claim the payout.

For both primary and contingent beneficiaries, you can assign as many beneficiaries as you want.

You want to assign a contingent beneficiary as your primary beneficiaries could die or somehow be impaired, and it can be a hassle for your family if your life insurance proceeds are added to your estate.

This puts a big target on your primary beneficiary's back, and it probably wouldn't be a bad idea for them to read this article, too.

Survivor Benefits for the spouse who was married to the primary beneficiary at the date of death

I just had a client that passed away, and the primary beneficiary was a 2 - year - old grandchild who will now receive their grandfather's RMD for their life expectancy.

So if you choose a 20 payment term, and your primary beneficiary dies after 10 years, the secondary beneficiary will receive the payments for the remaining 10 years.

Despite the death of the primary beneficiary, payments would continue to the secondary beneficiary for as long as the chosen term lasts.

This is a good option to use if the primary purpose of your life insurance is to provide support for your beneficiaries after your death.

If you have multiple Traditional, SEP and / or SIMPLE IRAs with different primary beneficiaries, you may want to maintain a separate Form 8606 for each IRA.

I Bonds can be purchased under sole ownership, primary ownership, or for a beneficiary.

Desirae has been organizing events and volunteering in shelters for four years and has been a dedicated volunteer with TLC since 2012 after her employer selected TLC as their primary beneficiary of the «Rescue Run 5K.»

For instance, if your primary beneficiary does not survive you, then you can indicate your next choice through a contingent bequest.

For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent bequest.

So while there are those with primary responsibility for the ongoing climate catastrophe, who have had a central decision - making role, there are largely passive beneficiaries who can additionally be used as ideological cover by those with primary responsibility.

Prior to the Fukushima disaster that followed the 2011 tsunami, Japan shuttered its nuclear generation fleet, leading in part to the 2012 introduction of the feed - in tariff policy for solar, the primary beneficiary of which to date has been the utility - scale solar (known as «megasolar» in Japan) sector.

The department laid out a seven - item list for the «primary beneficiary test.»

As events unfolded, it could be argued that the commercial legal publishers were the primary beneficiaries of CLIC's efforts in readying the market for the digital legal information products.

Focuses Primarily on the Death Benefit: If you primary concern is leaving behind money to your beneficiaries, then this is a great option for estate planning.

This type of policy is a life insurance policy which is a purchased for primary executive or other key personnel in a company where the company is named as the beneficiary.

If things don't go as planned, though, and the primary beneficiary (ies) predeceases the insured, or dies at the same time as the insured, for example in the case where a husband and wife are killed together in an accident, then the contingent beneficiary (ies), also known as secondary beneficiary, receives the funds.

You can name each other primary beneficiaries and then list, for example, adult children or trusted family members as secondary beneficiaries in the event that you both pass away at the same time.

Because term life insurance is a pure death benefit, its primary use is to provide coverage of financial responsibilities for the insured or his or her beneficiaries.

Other times you should update your beneficiary include getting married (add your spouse), getting divorced (subtract your spouse), when buying a new home or car (to make sure your wife is the primary beneficiary in case she needs to make loan payments), or after having a child (same, but for paying for college).

If you have additional family members you'd like to provide for after you're gone, you can also name them as your primary beneficiaries, in addition to the special needs trust.

Life insurance exists to cover expenses and debts for your beneficiaries if you as the primary breadwinner are no longer around.