Contingent remainder beneficiary definition

Contingent remainder beneficiary means a trust beneficiary who would be a presumptive remainder beneficiary on the date the beneficiary’s interest is determined if the interest of another presumptive remainder beneficiary terminated because a condition specified in the will or other governing instrument is not met.
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Contingent remainder beneficiary means a trust beneficiary who would
Sample 1Sample 2
Contingent remainder beneficiary means a trust beneficiary who would be a presumptive remainder beneficiary on the date the status of the trust beneficiaries is determined if the interest of another presumptive remainder beneficiary terminated because a condition specified in the will or other governing instrument is not met as of such date.
Sample 1

Related to Contingent remainder beneficiary

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Contingent Annuitant is the natural person who becomes the Annuitant if the Annuitant dies prior to the Income Date.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • additional spouse means a spouse by the party to the marriage who is additional to the party to the marriage;

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Beneficiary(ies means the individual or individuals designated in the Application by the Subscriber(s) to whom, or on whose behalf, Educational Assistance Payments are agreed to be paid, provided such individual qualifies under the Applicable Legislation and the Plan at the time such payments are made;

  • Accrued Benefit have the meanings specified in ERISA.

  • Spouse means, an individual who,

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • de facto spouse means a person of the opposite sex to the employee who lives with the employee as the husband or wife of the employee on a bona fide domestic basis, although not legally married to that person.

  • Eligible Spouse means a spouse of an Eligible Retiree who satisfies the requirements for eligibility described in the Eligibility section of this document, or an ex-spouse who is an Eligible Spouse with rights to coverage as an Eligible Spouse pursuant to a court order recognized by SHARP. A Spouse must be married to retiree at least one year prior to the effective date of retirement. A Spouse married after the retiree’s effective retirement date is considered a non-eligible spouse for purposes of the Plan. [See “Spouse”]

  • Contingent Right means a right under this Schedule 5 which is not a Firm Right and which is subject to the fulfilment of all competing Exercised Firm Rights and any additional contingency specified in this Schedule 5;

  • Termination Benefit means the benefit set forth in Article 7.

  • Covered Dependent means a Dependent whose coverage is in effect. It does not include a Dependent whose coverage has ended.

  • Individual with a disability means an individual who:

  • Automatic Renewal Terms with TIPS Members Certification Regarding "Indemnity" Terms with TIPS Members Certification Regarding "Arbitration" Terms with TIPS Members

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.