Rights of Inheriting Beneficiary Sample Clauses

The 'Rights of Inheriting Beneficiary' clause defines the entitlements and protections granted to individuals who inherit assets or interests under a will, trust, or similar legal instrument. This clause typically outlines what rights the beneficiary has regarding the inherited property, such as the ability to receive distributions, manage or sell assets, or enforce the terms of the inheritance. By clearly specifying these rights, the clause ensures that beneficiaries understand their legal standing and helps prevent disputes or confusion over the management and enjoyment of inherited assets.
Rights of Inheriting Beneficiary. Notwithstanding any provisions in this Agreement to the contrary, when and after the distribution from the Custodial Account to Depositor’s Beneficiary commences, all rights and obligations assigned to Depositor hereunder shall inure to, and be enjoyed and exercised by, Beneficiary instead of Depositor.
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Rights of Inheriting Beneficiary. Notwithstanding any provisions in this Agreement to the contrary, when and after the distribution from the Custodial Account to Investor’s Beneficiary commences, all rights and obligations assigned to Investor hereunder shall inure to, and be enjoyed and exercised by, Beneficiary instead of Investor.
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Related to Rights of Inheriting Beneficiary

  • DEATH OF BENEFICIARY Unless otherwise provided in the Beneficiary designation, if any Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no primary Beneficiaries, the Beneficiaries' interest will pass to a contingent Beneficiary, if any. Prior to the Annuity Commencement Date, if no Beneficiary or contingent Beneficiary survives the Owner, the Death Benefits will be paid to the Owner's estate. Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or annuity payments under an Annuity Payment Option, the Beneficiary may name his or her own Beneficiary to receive any remaining benefits due under the Contract, should the original Beneficiary die prior to receipt of all benefits. If no Beneficiary is named or the named Beneficiary predeceases the original Beneficiary, any remaining benefits will continue to the original Beneficiary's estate. A Beneficiary designation must be made by Notice to LNY.

  • No Designated Beneficiary If the Participant dies before the date distributions begin and there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.