Common use of Eligible Designated Beneficiary Who is Your Minor Child Clause in Contracts

Eligible Designated Beneficiary Who is Your Minor Child. If the benefit of your beneficiaries. If permitted, separate accounting your beneficiary is an eligible designated beneficiary who is your must be applied in accordance with Treasury Regulations. If there minor child, he/she must remove all assets from the SIMPLE are multiple beneficiaries, a beneficiary is considered the only IRA by the tenth anniversary of the date the minor attains the age beneficiary of their share of the SIMPLE IRA assets if separate of majority, even if such minor child initially chose to receive life accounting applies. If separate accounting applies, the rules above expectancy payments. apply based on the type of beneficiary (i.e., designated beneficiary,