If you've been a long time fan or client of wt360 you know we called for the coldest Summer in 5 years and wet-no drought in our forecast for the Eastern half of the U.S. this Summer. Hopefully that gives you a little hope that they can be totally wrong and not to panic on the Winter just yet.
A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. If you donât name a beneficiary, the death benefit will be paid to your estate. Two âlevelsâ of beneficiaries. Your life insurance policy should have both âprimaryâ and âcontingentâ beneficiaries. The primary beneficiary gets the death benefits if he or she can be found after your death. Contingent beneficiaries get the death benefits if the primary beneficiary canât be found.
If the IRA ownerâs beneficiary dies before the IRA owner and no contingent beneficiary was ever named, the IRA ownerâs estate is usually the default beneficiary. The estate does not have a life expectancy to use for stretch distributions.f the beneficiary names a successor beneficiary, the remaining IRA balance will go directly to that beneficiary with no probate, claims or other legal obstacles. When the original beneficiary dies and the successor beneficiary inherits, it does not change the stretch period of the original beneficiary.