Sentences with phrase «sometimes named beneficiaries»

However, other blood relatives such as grandchildren, friends, employers or business partners, trusts, and even charities are other examples of people and entities sometimes named beneficiaries.

Not exact matches

When someone is named a beneficiary and dies with the insured in a car accident or within a very short period of time (hours, not days, but that is driven by each state), then sometimes the money will go around that person and to the contingent beneficiary.

Many times a policyowner will name a spouse as a beneficiary, but sometimes not.

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 sometimes advantageous to have these plan assets paid to trusts, but naming a trust as the beneficiary of such plan assets raises a number of complex income tax, estate planning and other issues.

Sometimes an ex-spouse is named as the beneficiary by mistake because the husband or wife forgot to change the beneficiary after divorce.