Alternate Payeemeans a spouse, former spouse, child, or other dependent of a participant, who is designated to be paid retirement benefits in a qualified domestic relations order; Designated Retirement Accountmeans any retirement plan or account described or qualified under the Internal Revenue Code...
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A joint bank account is one that has more than one name on it. Banks do not freeze the assets of a joint account when one of the account owners dies. If a husband and wife owned an account together and one of them dies, the assets would pass to the surviving spouse. The surviving ...
Write to the Pension Disbursing Authority (PDA)i.e, the pension paying bank intimating them of the demise of the pensioner, asking them to discontinue the pension of the pensioner and commence payment of the family pension of the spouse / NoK / Heir, enclose an ink signed death certificate...
However, the surviving spouse does have the option of treating the IRA or retirement account as her own, which may be more beneficial, depending on the circumstances.Qualifying Surviving Spouse (QSS) Status with Dependent ChildA qualifying surviving spouse (QSS) has a surviving spouse status. ...
Your spouse or child will not be liable under the property transfer laws of the Income Tax Act and/or the Excise Tax Act by the mere depositing of your money into the joint bank account. What it also tells me is, if you are in this situation and do not have a joint bank account,...
A personal representative has myriad other nuts-and-bolts responsibilities. If the deceased was collecting Social Security, you must notify the Social Security Administration of his death. The estate will need a bank account so you can deal with administration expenses, debts and taxes in the name...