Disabled beneficiaries Sample Clauses

Disabled beneficiaries. Should any beneficiary or recipient of any trust property be or become disabled, notwithstanding the above distributions and any other provisions in this agreement to the contrary, the Trustee may pay to or for the benefit of the disabled Beneficiary such sums of income and principal as the Trustee in its sole, absolute, complete and unfettered discretion shall determine from time to time for his or her supplementary needs. By "supplementary needs" is meant amounts needed for the Beneficiary's health, education, maintenance and support that are not provided or available to be provided by any governmental assistance or benefit program, the Beneficiary, or from any other source. Payment for such needs shall only be supplemental to any governmental or private assistance or benefit program and shall not supplant such other source. The Trustee may, in the Trustee's discretion, use funds from this trust for the Beneficiary's basic living needs, such as sophisticated mental and diagnostic work and treatment for which there are not funds otherwise available, including plastic surgery or other medical procedures not deemed to be medically necessary, dental care, recreation and transportation, the differential in the cost between housing and shelter for shared and private rooms, supplemental nursing care, and similar care that assistance programs may not otherwise provide. Distribution may be made for such things as a telephone, television service, an electrical wheelchair, mechanical bed, companions for travel, cultural experiences, and periodic outings and payments to third parties to accompany the Beneficiary. These are illustrations of supplemental benefits that the Trustee may wish to consider in deciding to make funds available to or for the benefit of the Beneficiary. The examples are not inclusive or exclusive. The limitations on the purposes for which distributions may be made for the benefit of any disabled Beneficiary and the limitations on the methods of distribution hereunder for the benefit of the Beneficiary are intended to comply with the current regulations of the State of Indiana applicable to the purpose of these trust provisions. In the event that, at any time, the exclusion of the Trust Estate for purposes of the Beneficiary's eligibility for public assistance does not require such limitations, the Trustee shall then have the broadest authority and discretion to make distributions to or for the benefit of the Beneficiary, and for such purposes a...
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Related to Disabled beneficiaries

  • Intended Beneficiaries Nothing in this Agreement shall be construed to give any person or entity other than the parties hereto any legal or equitable claim, right or remedy. Rather, this Agreement is intended to be for the sole and exclusive benefit of the parties hereto.

  • Designated Beneficiary The individual who is designated as the Beneficiary under the Plan in accordance with Section 401(a)(9) of the Code and the regulations thereunder.

  • How do the RMD Rules Impact my Designated Beneficiary or Beneficiaries The RMD rules provide for the determination of your designated beneficiary or beneficiaries as of September 30 of the year following your death. Consequently, any beneficiary may be eliminated for purposes of calculating the RMD by the distribution of that beneficiary’s benefit, through a valid disclaimer between your death and the end of September following the year of your death, or by dividing your IRA account into separate accounts for each of several designated beneficiaries you may have designated.

  • Covered Benefits Benefits for Bone Mass Measurement for the prevention, diagnosis, and treatment of osteoporosis are covered when requested by a Health Care Provider for a Qualified Individual.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Insured Benefits A transferring employee will be covered by the benefit plans at the designated Employer. There will be no break in coverage and/or no waiting period prior to being able to receive benefits so long as the waiting period has already been served, subject to the requirements of the carrier.

  • No Designated Beneficiary If the Participant dies before the date distributions begin and there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.

  • Protected Benefits The elections under this Article VI may not eliminate Code Section 411(d)

  • Accrued Benefits The term “Accrued Benefits” shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • Beneficiaries The Executive may designate one or more persons or entities as the primary and/or contingent Beneficiaries of any Severance Benefits owing to the Executive under this Agreement. Such designation must be in the form of a signed writing acceptable to the Committee. The Executive may make or change such designations at any time.

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