Designated Beneficiary Clause Samples
The Designated Beneficiary clause identifies the individual or entity entitled to receive benefits, assets, or proceeds under a contract, policy, or legal instrument. In practice, this clause specifies who will inherit funds from a life insurance policy, retirement account, or trust upon the account holder's death, and may allow for the naming of primary and contingent beneficiaries. Its core function is to ensure that the intended recipient receives the designated assets efficiently, bypassing probate and reducing potential disputes among heirs or claimants.
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Designated Beneficiary. Upon the death of the Owner or Joint Owner, the Designated Beneficiary will be the first person on the following list who is alive on the date of death:
Designated Beneficiary. The individual who is designated as the beneficiary under Section 1.16 of the Plan and is the designated beneficiary under Code Section 401(a)(9). Treas. Reg. Sec. 1.401(a)(9)-1, Q&A-4.
Designated Beneficiary. The individual who is designated as the Beneficiary under paragraph 1.13 of the Basic Plan Document #01 and is the designated Beneficiary under Code Section 401(a)(9) and Section 1.401(a)(9)-1, Q&A-4, of the Treasury Regulations.
Designated Beneficiary. The “Designated Beneficiary” shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in such form and at such time as the Committee shall require.
Designated Beneficiary. A designated beneficiary is any individual uses his/her age at the end of the year following the year of death you name as a beneficiary who has an interest in your IRA on the to determine the initial single life expectancy divisor and reduces determination date, which is September 30 of the year following the this number by one for each following year's RMD calculation. year of your death. Certain qualifying trusts can also be a designated However, if you die on or after your RBD, your beneficiary uses beneficiary. For a qualifying trust to be a designated beneficiary, the the longer of your remaining life expectancy, determined in your qualifying trust beneficiaries must be designated beneficiaries. year of death and reduced by one in each subsequent year, or
Designated Beneficiary. The individual who is designated as the beneficiary under this custodial account and is the Designated Beneficiary under section 401(a)(9) of the Internal Revenue Code and section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations.
Designated Beneficiary. The individual who is designated as the Beneficiary under the Plan in accordance with Section 401(a)(9) of the Code and the regulations thereunder.
Designated Beneficiary. In the event of the death of Executive while in the employ of the Company, or at any time thereafter during which amounts remain payable to Executive under Section 5, such payments (other than the right to continuation of welfare benefits) shall thereafter be made to such person or persons as Executive may specifically designate (successively or contingently) to receive payments under this Agreement following Executive's death by filing a written beneficiary designation with the Company during Executive's lifetime. Such beneficiary designation shall be in such form as may be prescribed by the Company and may be amended from time to time or may be revoked by Executive pursuant to written instruments filed with the Company during his lifetime. Beneficiaries designated by Executive may be any natural or legal person or persons, including a fiduciary, such as a trustee or a trust or the legal representative of an estate. Unless otherwise provided by the beneficiary designation filed by Executive, if all of the persons so designated die before Executive on the occurrence of a contingency not contemplated in such beneficiary designation, then the amounts payable under this Agreement shall be paid to Executive's estate.
Designated Beneficiary. A designated beneficiary is any individual 4. Not a Designated Beneficiary. A beneficiary that is not a designated you name as a beneficiary who has an interest in your ▇▇▇▇ ▇▇▇ on beneficiary includes a nonindividual that is an estate, charitable the determination date, which is September 30 of the year following organization, or nonqualified trust. If your beneficiary is not a the year of your death. Certain qualifying trusts can also be a designated beneficiary, such a beneficiary is required to remove all designated beneficiary. For a qualifying trust to be a designated assets from the ▇▇▇▇ ▇▇▇ by December 31 of the fifth year following beneficiary, the qualifying trust beneficiaries must be designated the year of your death (the five-year rule).
Designated Beneficiary. Designated Beneficiary" shall mean one or more individuals or legal entities designated by Officer on Exhibit A to this Agreement, but if there is no such effective beneficiary designation at the time of Officer's death, then Designated Beneficiary shall mean the legal representative of Officer's estate. Exhibit A to this Agreement may be revoked by Officer at any time by written instrument delivered to Company, in which event a new Exhibit A may be completed and executed by Officer and shall be effective upon receipt by Company prior to the date of Officer's death.