That means each beneficiary would receive $100,000. However, if beneficiary C dies before you, under per stirpes, beneficiary C’s children would inherit the $100,000 that was originally meant for C.

The death of a loved one brings stress, despair and grief. It also often precipitates disagreements regarding the intended beneficiary of an annuity, life insurance policy or other account of the ...

An irrevocable beneficiary has a guaranteed right to receive the death benefit from your life insurance policy, and their consent is required for any changes that affect their rights. Naming minor ...

In 2022, New Jersey enacted a new law to simplify the process for vehicle owners to transfer vehicles at death. N.J.S.A. 39:3-30.1b, which became effective on May 9, 2023, authorizes the owner of ...

Finally, make sure your estate is not named as beneficiary. Part of the benefit of beneficiary designations is that the probate court need not be involved in the distribution of the account.

Beneficiary Management Making sure affairs are in order and checking in from time to time is key when it comes to protecting loved ones. Ensuring your beneficiary information is updated is one way to ...

We think this is an excellent idea. Pursuant to N.J.S.A. 39:3-30.1b, an individual owning a vehicle titled in New Jersey may now designate a beneficiary to receive ownership upon his or her death.

The 2023 RMD is calculated based on the December 31, 2022 IRA balance, but the life expectancy factor will be based on the beneficiary’s age in the year after death (2021) under the new IRS ...

A withdrawal from a POD account still takes time, though, since the beneficiary must show the bank a death certificate as well as identification. "If you have one child, a transfer on death to ...

Although the SECURE Act eliminated stretch IRAs for most beneficiaries, replacing them with the 10-year post-death payout rule, some beneficiaries can still use a stretch IRA.