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Definition of 'Named Beneficiary'
This term refers to any beneficiary named in a will, a trust, an insurance policy, pension plan accounts, IRAs, or any other instrument, to whom benefits are paid. Named beneficiaries are the beneficial owners of the property and will share in the proceeds at the time of disposition. In an annuity policy, for example, the policyholder and the named beneficiary may be the same person.
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Investopedia explains 'Named Beneficiary'
Beneficiary designations can be complex. For example, by naming a specific beneficiary in a life insurance policy, the proceeds of the insurance policy will not be subject to the will or to probate and will pass directly to the named beneficiary. There are many different kinds of beneficiaries, such as primary or contingent beneficiaries, and the named beneficiary need not be an individual. A named beneficiary of an insurance policy, for example, can be the estate of the deceased, in which case the actual beneficiaries will be designated in the will.
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Search results for 'Named Beneficiary'
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http://www.investopedia.com/ask/answers/06/changebeneficiary.asp
... If a trust is named as the beneficiary of an IRA, can the trustee of that trust
become the beneficiary without the IRA owner signing the Change of Beneficiary ...
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http://www.investopedia.com/ask/answers/05/inheritIRA.asp
... Feedback Feedback. Can a spouse who is not named as a beneficiary receive
assets from an IRA? It depends. Generally speaking, the ...
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http://www.investopedia.com/ask/answers/09/trust-beneficiaries.asp
... Since retirement accounts (such as an IRA, 401k, Roth IRA, 403b), pass by way of
contract (named beneficiary), the probate process and attorneys needed for ...
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http://www.investopedia.com/ask/answers/03/120303.asp
... However, a named beneficiary may challenge the default provisions, resulting in
costly legal fees and a delay in your receipt of the inherited assets. ...
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http://www.investopedia.com/articles/pf/06/ownerannuitant.asp
... the contract. The named beneficiary is entitled to the annuity funds when
the annuity contract owner dies. Generally, the owner ...
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http://www.investopedia.com/articles/pf/07/estate_plan_checklist.asp
... For example, if you've already named your sister as a beneficiary on a retirement
account or insurance policy (assets that typically pass outside of a will to ...
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http://www.investopedia.com/ask/answers/08/revocable-living-trust.asp
... Also, the proceeds payable to a trust may not qualify for the inheritance tax exemption
provided by some states for insurance payable to a named beneficiary. ...
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http://www.investopedia.com/articles/pf/06/FDICinsurance.asp
... Living or Family Trust Accounts Living or family trust accounts are insured up to
$250,000 for each named beneficiary as long as you follow the rules: ...
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http://www.investopedia.com/university/estate-planning/estate-planning10.asp
... If an estate is named beneficiary of the policy, the death benefits are includable
in the decedent's gross estate and are subject to the claims of the estate's ...
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http://www.investopedia.com/articles/retirement/03/031803.asp
... account was established. If a long time ago you named a charity as your
beneficiary, the charity may no longer exist. While many of ...
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