Eligible Designated Beneficiary Sample Clauses
The Eligible Designated Beneficiary clause defines who qualifies as a beneficiary under certain legal or financial arrangements, such as retirement plans or trusts, in accordance with applicable laws. Typically, this clause outlines specific criteria that individuals must meet—such as being a spouse, minor child, disabled or chronically ill individual, or a person not more than ten years younger than the account holder—to receive benefits in a preferential manner. Its core practical function is to ensure that only those who meet these eligibility requirements can access certain tax advantages or extended payout options, thereby providing clarity and compliance with regulatory standards.
Eligible Designated Beneficiary. An eligible designated beneficiary is any designated beneficiary who is the surviving spouse, a child under the age of majority, disabled or chronically ill, or any other person who is not more than 10 years younger than the participant/IRA owner.
Eligible Designated Beneficiary. An 'eligible designated beneficiary' is a designated beneficiary who is: 1) the IRA owner's surviving spouse; 2) an IRA owner's minor child (through the age of majority); 3) disabled (as defined by law); 4) a chronically ill individual (as defined by law); or 5) an individual who is not more than 10 years younger than the IRA owner. Certain qualifying trusts can also be an eligible designated beneficiary. For a qualifying trust to be an eligible designated beneficiary, the qualifying trust beneficiaries must be eligible designated beneficiaries.
Eligible Designated Beneficiary. An eligible designated beneficiary date (September 30 of the year following the year of your death) will is a designated beneficiary who is: 1) the ▇▇▇▇ ▇▇▇ owner's still be considered for the sake of determining the distribution period. surviving spouse; 2) a ▇▇▇▇ ▇▇▇ owner's minor child (through the If any named beneficiary that is not an individual, such as an estate age of majority); 3) disabled (as defined by law); 4) a chronically ill or charity, has an interest in your ▇▇▇▇ ▇▇▇ on the determination individual (as defined by law); or 5) an individual who is not more date, and separate accounting does not apply, your ▇▇▇▇ ▇▇▇ will be than 10 years younger than the ▇▇▇▇ ▇▇▇ owner. Certain qualifying treated as having no designated beneficiary (i.e., not a designated trusts can also be an eligible designated beneficiary. For a qualifying beneficiary).
a. Spouse Beneficiary. Your spouse beneficiary may have the beneficiaries of the qualifying trust are treated as the beneficiaries of
Eligible Designated Beneficiary. An eligible designated beneficiary have named. However, if for any distribution year, you have as is a designated beneficiary who is: 1) the SIMPLE IRA owner's your only named beneficiary for the entire year, your spouse, who surviving spouse; 2) a SIMPLE IRA owner's minor child (through is more than ten years younger than you, the uniform lifetime table the age of majority); 3) disabled (as defined by law); 4) a will not be used. To calculate your RMD for that year you will use chronically ill individual (as defined by law); or 5) an individual the ages of you and your spouse at the end of that year to determine who is not more than 10 years younger than the SIMPLE IRA a joint life expectancy divisor from the IRS's joint and last survivor owner. Certain qualifying trusts can also be an eligible designated table. This will be the case even if your spouse dies, or you become beneficiary. For a qualifying trust to be an eligible designated divorced and do not change your beneficiary, during that year. The beneficiary, generally the qualifying trust beneficiaries must be fair market value of a qualifying longevity annuity contract (QLAC) eligible designated beneficiaries. is not included in the adjusted balance for RMD calculations. a. Spouse Beneficiary. Your spouse beneficiary may have the but no additional amounts taken can be credited to a subsequent alternatively choose to treat the entire interest (all of the account) year's RMD. of the SIMPLE IRA as his/her own IRA.
Eligible Designated Beneficiary. An eligible designated beneficiary If such a beneficiary chooses the ten-year rule, he/she is
Eligible Designated Beneficiary. If your beneficiary is an eligible designated beneficiary, the beneficiary may choose to distribute the entire amount remaining in your account by using either the:
Eligible Designated Beneficiary. An eligible designated beneficiary is any designated beneficiary who, as of the day of your death, is any one of the following:
Eligible Designated Beneficiary. An 'eligible designated
Eligible Designated Beneficiary. (Other than a Surviving Spouse or Minor Child). If your beneficiary is an eligible designated beneficiary who is someone other than your surviving spouse or your minor child, he/she has the option of taking distribution of the IRA assets over a single life expectancy period or within ten years.
Eligible Designated Beneficiary. If your beneficiary is a nonspouse eligible designated beneficiary, the beneficiary may continue to distribute the amount remaining in your account over the longer of your single life expectancy in the year of death, reduced by one each year, or the beneficiary’s single life expectancy in the year after the year of your death, reduced by one each year. Spouse beneficiaries may use the longer of your single life expectancy in the year of death, reduced by one each year, or the spouse beneficiary’s life expectancy each year determined by using the Uniform Lifetime Table, as permitted under the Treasury Regulations. A minor child who is your beneficiary must continue the payments annually based upon the beneficiary’s single life expectancy in the year after death, reduced by one and must deplete the account by December 31 of the year the beneficiary attains age 31.