Sentences with phrase «successor beneficiary»

By splitting the inherited account, each beneficiary can also name her own successor beneficiaries.

This language also generally allows for successor beneficiaries to be named, facilitating the further tax - deferred growth of the IRA over (possibly) more than one generation.

The property in it passes per the terms of the document to the successor beneficiaries and avoids probate.

Nonspouse beneficiaries, as well as a spouse who does not treat an inherited IRA as his or her own, can not contribute to the IRA and can only name «successor beneficiaries.»

• You can name the Petfinder Foundation a successor beneficiary in case of the death of the primary beneficiary (ies) named in the policy.

Should the primary beneficiary predecease the policyholder or is unable to be found, the benefit would then revert to those you had designated as the contingent, secondary, or successor beneficiaries.

A successor beneficiary is a backup beneficiary for a life insurance policy.

If the primary beneficiary is not alive when the insured dies, the policy will then pay the death benefit to the successor beneficiary.

For example, a man names his wife as the primary beneficiary and his brother as a successor beneficiary.

Naming a successor beneficiary can prevent delays with the insurance death benefit in case both the insured and the primary beneficiary die at the same time.

A successor beneficiary is the person who receives the death benefit of a life insurance policy in case the primary beneficiary dies first.

Also, many life insurance policies have a primary and a successor beneficiary; the successor is the person who would receive the benefit if something were to happen to both the insured and the primary beneficiary.