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

Eligible Designated Beneficiary Who is Your Minor Child. If 2 and 3. If there are multiple beneficiaries, a beneficiary is your beneficiary is an eligible designated beneficiary who is your considered the only beneficiary of their share of the IRA assets if minor child, he/she has the option of taking distribution of the separate accounting applies. If separate accounting applies, the rules IRA assets over a single life expectancy period or within ten above apply based on the type of beneficiary (i.e., designated years. However, upon reaching the age of majority, he/she must beneficiary, eligible designated beneficiary, not a designated take out any remaining interest in the IRA assets within ten years beneficiary).