Common use of Eligible Designated Beneficiary Clause in Contracts

Eligible Designated Beneficiary. An 'eligible designated beneficiary' is a designated beneficiary who is: 1) the IRA owner's surviving spouse; 2) an IRA owner's minor child (through the age of majority); 3) disabled (as defined by law); 4) a chronically ill individual (as defined by law); or 5) an individual who is not more than 10 years younger than the IRA owner. Certain qualifying trusts can also be an eligible designated beneficiary. For a qualifying trust to be an eligible designated beneficiary, the qualifying trust beneficiaries must be eligible designated beneficiaries.

Eligible Designated Beneficiary. An 'eligible designated beneficiary' is a designated beneficiary who is: 1) the IRA Xxxx XXX owner's surviving spouse; 2) an IRA a Xxxx XXX owner's minor child (through the age of majority); 3) disabled (as defined by law); 4) a chronically ill individual (as defined by law); or 5) an individual who is not more than 10 years younger than the IRA Xxxx XXX owner. Certain qualifying trusts can also be an eligible designated beneficiary. For a qualifying trust to be an eligible designated beneficiary, the qualifying trust beneficiaries must be eligible designated beneficiaries.

Eligible Designated Beneficiary. An '”eligible designated beneficiary' ” is a designated beneficiary who is: 1) the IRA owner's ’s surviving spouse; 2) an IRA owner's ’s minor child (through the age of majority); 3) disabled (as defined by law); 4) a chronically ill individual (as defined by law); or 5) an individual who is not more than 10 years younger than the IRA owner. Certain qualifying trusts can also be an eligible designated beneficiary. For a qualifying trust to be an eligible designated beneficiary, the qualifying trust beneficiaries must all be eligible designated beneficiaries.

Eligible Designated Beneficiary. An 'eligible designated beneficiary' beneficiary is a designated beneficiary who is: 1) the SIMPLE IRA owner's surviving spouse; 2) an a SIMPLE IRA owner's minor child (through the age of majority); 3) disabled (as defined by law); 4) a chronically ill individual (as defined by law); or 5) an individual who is not more than 10 years younger than the SIMPLE IRA owner. Certain qualifying trusts can also be an eligible designated beneficiary. For a qualifying trust to be an eligible designated beneficiary, generally the qualifying trust beneficiaries must be eligible designated beneficiaries.