Common use of Beneficiary Determination Clause in Contracts

Beneficiary Determination. Named beneficiaries who completely If your beneficiary is a designated beneficiary who is not an eligible distribute their interests in your Xxxx XXX, or completely disclaim designated beneficiary, such beneficiary will have to follow the their interests in your Xxxx XXX under IRC Section 2518, will not be ten-year rule and is required to remove all assets from the Xxxx XXX considered when designated beneficiaries are determined. Named by December 31 of the tenth year following the year of your death. beneficiaries who die after your death but before the determination