Successor beneficiary definition

Successor beneficiary means a person entitled to receive income or principal or to use property when an income interest or other current interest ends.

Successor beneficiary means a beneficiary that is not a qualified beneficiary on the date the beneficiary’s qualification is determined. The term does not include a person that is a beneficiary only because the person holds a nongeneral power of appointment.

Successor beneficiary means a person entitled to receive

Examples of Successor beneficiary in a sentence

• Be sure to indicate if the designation is Primary or Successor beneficiary.

• If the Beneficial Owner does not name a Successor beneficiary, any remaining Contract Proceeds on the date of death of the Beneficial Owner will be paid to the Beneficial Owner’s estate.

• Successor beneficiary – the person entitled to income, principal, or use of property at the end of a current interest.Trust - defines a trust by type, as well as by describing what is not a trust.

• Initially Tay was a big success; she sent more than 94,000 short messages to social media users.

• Successor beneficiary nomination must occur within 90 days of remarriage or before August 4, 1993, whichever is later 08/28/93 25/55-- A member with 25 years of creditable service may retire and draw full benefits beginning at age 55, rather than the current age 60.

More Definitions of Successor beneficiary

Successor beneficiary means a beneficiary that is not a qualified beneficiary on the date the beneficiary's qualification is determined. "Successor beneficiary" does not include a person that is a beneficiary only because the person holds a nongeneral power of appointment.[PL 2021, c. 235, §1 (NEW).]

Successor beneficiary means a beneficiary that is not a qualified

Successor beneficiary means a person entitled to receive income or principal or

Successor beneficiary means a beneficiary other than a current or presumptive remainder beneficiary. The term does not include a potential appointee under a power of appointment held by a beneficiary.

Successor beneficiary means a beneficiary that is not a qualified beneficiary on the

Successor beneficiary means a beneficiary

Successor beneficiary means a beneficiary that