Common use of Yes Clause in Contracts

Yes. If you die before receiving the balance of your Traditional XXX, distribution of your remaining account balance is subject to several special rules. If you die on or after your required beginning date, the designated beneficiary can stretch payments out over the longer of the beneficiary’s remaining life expectancy (using the age of the beneficiary in the year following the year of your death) or your remaining life expectancy (determined using your age in the year of your death) beginning in the year after the year of your death and reduced by 1.0 for each succeeding year. If you die before your required beginning date, your remaining interest may either (i) be distributed by December 31 of the year containing the fifth anniversary of your death, or (ii) begin to be distributed by December 31 of the year following your death over a period not exceeding the life expectancy or expectancies of your designated beneficiary or beneficiaries. Two additional distribution options are available if your spouse is the beneficiary: (i) payments to your spouse may commence as late as December 31 of the year you would have attained age 70½ and be distributed over a period not exceeding the life expectancy of your spouse, or (ii) your spouse can simply elect to treat your Traditional XXX as his or her own, in which case distributions will be required to commence by April 1 following the calendar year in which your spouse attains age 70½.

Yes. If you die before receiving the balance of your Traditional XXXIRA, distribution of your remaining account balance is subject to several special rules. If you die on or after your required beginning date, the designated beneficiary can stretch payments out over the longer of the beneficiary’s remaining life expectancy (using the age of the beneficiary in the year following the year of your death) or your remaining life expectancy (determined using your age in the year of your death) beginning in the year after the year of your death and reduced by 1.0 for each succeeding year. If you die before your required beginning date, your remaining interest may either (i) be distributed by December 31 of the year containing the fifth anniversary of your death, or (ii) begin to be distributed by December 31 of the year following your death over a period not exceeding the life expectancy or expectancies of your designated beneficiary or beneficiaries. Two additional distribution options are available if your spouse is the beneficiary: (i) payments to your spouse may commence as late as December 31 of the year you would have attained age 70½ and be distributed over a period not exceeding the life expectancy of your spouse, or (ii) your spouse can simply elect to treat your Traditional XXX IRA as his or her own, in which case distributions will be required to commence by April 1 following the calendar year in which your spouse attains age 70½.

Yes. If you die before receiving the balance of your Traditional XXXIRA, distribution of your remaining account balance is subject to several special rules. If you die on or after your required beginning date, the designated beneficiary can stretch payments out over the longer of the beneficiary’s remaining life expectancy (using the age of the beneficiary in the year following the year of your death) or your remaining life expectancy (determined using your age in the year of your death) beginning in the year after the year of your death and reduced by 1.0 for each succeeding year. If you die before your required beginning date, your remaining interest may either (i) be distributed by December 31 of the year containing the fifth anniversary of your death, or (ii) begin to be distributed by December 31 of the year following your death over a period not exceeding the life expectancy or expectancies of your designated beneficiary or beneficiaries. Two additional distribution options are available if your spouse is the beneficiary: (i) payments to your spouse may commence as late as December 31 of the year you would have attained age 70½ 701⁄2 and be distributed over a period not exceeding the life expectancy of your spouse, or (ii) your spouse can simply elect to treat your Traditional XXX IRA as his or her own, in which case distributions will be required to commence by April 1 following the calendar year in which your spouse attains age 70½.701⁄2.