Sentences with phrase «spouse dies»

If one spouse dies, the surviving spouse would hold title to the property as a trustee.

When the surviving spouse dies, the property would pass to the beneficiaries of the trust.

If one spouse dies, the other can lose the home Reverse Mortgages have safeguards in place to help the surviving spouse of a reverse mortgage borrower stay in the home.

It will also affect the calculation of estate taxes owed when a spouse dies and how much capital gain is exempt from taxes in the sale of a home that is owned in the name of only one member of the couple.

LEARN: What to do now to meet the requirements when the Borrowing Spouse dies to remain in your property for life and avoid foreclosure.

Like joint tenancy, this form of ownership means each spouse owns 100 percent of the property and an equal right to possess the home, and provides that when one spouse dies, the surviving spouse automatically becomes the property's sole owner.

It will affect the calculation of estate taxes owed when a spouse dies and how much capital gain is exempt from taxes in the sale of a home that is owned in the name of only one member of the couple.

Even if you're happily married, Hallett says, it's not a bad idea to run a fire drill and look at what could happen if your spouse dies or your marriage falls apart: «It's not an exercise to force people to fall out of love, but it never hurts to face reality.

When the last surviving borrower or non-borrowing spouse dies, an heir or the executor of the estate has the option to sell the property and use the proceeds to repay the loan.

However, to receive the full capital gains exclusion of $ 500,000, surviving spouses have to sell their home within the tax year their spouse dies.

When your spouse dies, people will tell you that you shouldn't make any major decisions for the next year.

Unfortunately, if your rights have not been protected in the separation agreement, and your pensioned spouse dies after your decree is final but before the QDRO has been approved, your rights to the pension may be lost.

What happens if the recipient spouse dies after the divorce?

When mental competency is an issue, the healthy spouse, or a relative or guardian of the sick spouse, must file at any time before either spouse dies.

Most retirement plans have language and options around survivorship benefits if the employee spouse dies after the divorce, either before or after they actually retire.

However, alimony terminates earlier if either spouse dies or the recipient marries.

Under most circumstances spousal maintenance automatically terminates when one spouse dies or the spouse receiving maintenance remarries.

Indefinite alimony is permanent, ending when either spouse dies.

This is especially true when one spouse dies.

Additionally, the maintenance obligation will end if either spouse dies or the spouse receiving maintenance remarries.

Under Nevada law, permanent alimony ends if either spouse dies or the receiving spouse remarries, unless the court orders otherwise.

According to Colorado Divorce and Family Law Guide, maintenance ends when one former spouse dies or when the one recipient spouse remarries.

This means that if one spouse dies or leaves, the remaining spouse can take over the lease.

The tax treatment of a married couple jointly assessed to tax in the year where one spouse dies depends on whether the assessable spouse or the non-assessable spouse dies.

When you get Term Life Insurance to cover your family, you are buying protection for the loss of income and to cover major debts when you or a spouse dies.

If that spouse dies, childcare will need to be arranged, which could be very costly.

You'll want to consider how much money you would need if your spouse dies, and use that to decide if you need Supplemental (Additional) Insurance on your spouse.

The company also offers a unique Joint first - to - die policy that pays out to the surviving spouse when the first spouse dies.

Accidental Death: Provides payment if you or your spouse dies as a result of a car accident or being struck by a car.

When the first spouse dies, his or her respective policy pays out.

The downside is that the replacement cost of the policy would be included in the estate of the spouse, and if the spouse dies before the insured, it's possible that the policy might revert to the insured and be included in his or her estate.

Wouldn't it be wise to guarantee the continuation of both incomes in the event either spouse dies.

1) If any of the spouse dies, then the survival person will get 50 % of the sum assured and life cover will continue for rest of term for the other partner.

This way, when one spouse dies the remaining spouse receives the death benefit.

This means that if you and your spouse take out the policy, neither of you will collect a death benefit payout when the other spouse dies, but life insurance will be paid after your death to your beneficiaries, which can be heirs, a charity or trust that you set up.

However, once the surviving spouse dies, these material possessions will become a part of the estate - assuming that the surviving spouse does not remarry.

A married couple may use the second - to - die provision which makes the policy non-taxable until the second spouse dies.

A pension with a spousal benefit is void after the spouse dies.

First To Die - Pays a death benefit when you or your spouse dies, whichever comes first.

Maurer recommends calculating how much money you need to add to your nest egg to reach your savings goals, then keeping enough term insurance coverage to fill in that gap in case you or your spouse dies early.

If spouses apply at the same time, Great Western will pay an extra $ 1,000 when the first spouse dies.

A second to die life insurance policy is set up to insure two individuals, usually married couples, and does not pay out until the surviving spouse dies.

When one spouse dies, the survivor typically receives only the larger of the couple's two Social Security benefit payments, and pension payments and retiree medical benefits may also shrink.

If a person is already claiming spousal benefits at the time their spouse dies, that person does not need to submit a separate application for the lump - sum Social Security death benefit.

Unlike other types, these policies pay out their death benefit only when the second, or last surviving, spouse dies.

For most families, even if both spouses are generating a significant and steady income stream, if one spouse dies, the surviving spouse is unlikely to continue comfortably meeting the monthly family expenses.

The spouse who is financially dependent on the other will then receive the death benefit on that policy when their spouse dies.

Term life insurance is fairly inexpensive, and because of this low price many families find this to be the best way to pay off the mortgage if an income - producing spouse dies.

There are three different types of life insurance that you can purchase to pay off a mortgage in case a spouse dies.

«Insurance That Will Pay the Mortgage if a Spouse Dies» accessed April 13, 2018.