Common use of Yes Clause in Contracts

Yes. If you die before receiving the balance of your XXX, distribution of your remaining account balance is subject to the following rules. If your spouse is not the beneficiary, then your remaining interest may either (i) be distributed by December 31 of the year containing the fifth anniversary of your death, or (ii) begin to be distributed by December 31 of the year following your death over a period not exceeding the life expectancy or expectancies of your designated beneficiary or beneficiaries. The minimum amount that must be distributed under (ii) is the account value at the close of business on December 31 of the preceding year divided by the life expectancy of the designated beneficiary using the age of the beneficiary in the year following the year of the depositor’s death and subtracting one from the divisor for each subsequent year. Two additional distribution options are available if your spouse is the beneficiary: (i) payments to your spouse may commence as late as December 31 of the year you would have attained age 70½ and be distributed over a period not exceeding the life expectancy of your spouse, or (ii) your spouse can simply elect to treat your Xxxx XXX as his or her own.

Yes. If you die before receiving the balance of your XXXIRA, distribution of your remaining account balance is subject to the following rules. If your spouse is not the beneficiary, then your remaining interest may either (i) be distributed by December 31 of the year containing the fifth anniversary of your death, or (ii) begin to be distributed by December 31 of the year following your death over a period not exceeding the life expectancy or expectancies of your designated beneficiary or beneficiaries. The minimum amount that must be distributed under (ii) is the account value at the close of business on December 31 of the preceding year divided by the life expectancy of the designated beneficiary using the age of the beneficiary in the year following the year of the depositor’s death and subtracting one from the divisor for each subsequent year. Two additional distribution options are available if your spouse is the beneficiary: (i) payments to your spouse may commence as late as December 31 of the year you would have attained age 70½ and be distributed over a period not exceeding the life expectancy of your spouse, or (ii) your spouse can simply elect to treat your Xxxx XXX as his or her own.

Yes. If you die before receiving the balance of your XXXIRA, distribution of your remaining account balance is subject to the following rules. If your spouse is not the beneficiary, then your remaining interest may either (i) be distributed by December 31 of the year containing the fifth anniversary of your death, or (ii) begin to be distributed by December 31 of the year following your death over a period not exceeding the life expectancy or expectancies of your designated beneficiary or beneficiaries. The minimum amount that must be distributed under (ii) is the account value at the close of business on December 31 of the preceding year divided by the life expectancy of the designated beneficiary using the age of the beneficiary in the year following the year of the depositor’s death and subtracting one from the divisor for each subsequent year. Two additional distribution options are available if your spouse is the beneficiary: (i) payments to your spouse may commence as late as December 31 of the year you would have attained age 70½ 701⁄2 and be distributed over a period not exceeding the life expectancy of your spouse, or (ii) your spouse can simply elect to treat your Xxxx XXX Traditional IRA as his or her own, in which case distributions will be required to commence by April 1 following the calendar year in which your spouse attains age 701⁄2.