En kontingentmodtager er en person, ejendom eller trust, der modtager formuen for en person, der dør, hvis den primære begunstigede af en eller anden grund ikke kan modtage aktiverne.
Det anbefales almindeligvis af advokater, når deres klienter laver et testamente, om at have mindst én kontingentbegunstiget.
Det er muligt at have flere kontingentbegunstigede, og de kan opføres i en bestemt rækkefølge.
Efter en person dør, vil hans eller hendes aktiver normalt gå gennem skifte. Skifteskifteprocessen kan undgås, og aktiverne mere effektivt videregives til arvingerne, hvis primære og betingede begunstigede er navngivet.
Mens kontingentmodtageren er en af de vigtigste faktorer i livsforsikringsprocessen, er den typisk en af de mest forvirrede og misforståede. Eventuelle fejl eller misforståelser kan føre til en masse problemer hen ad vejen, som kan forårsage store hovedpine for dine kære.
Der er et par vigtige grunde til, at det er vigtigt at navngive en kontingentmodtager.
Hvis en begunstiget er tildelt en bankkonto, har denne begunstiget rettighederne til denne konto efter ejerens død, selvom testamentet angiver, at aktiverne på den konto skal gå til en anden.
Der vil være én primær modtager på politikken. Dette er normalt en ægtefælle eller partner. De modtager provenuet fra policen ved forsikringstagerens død. Hvis en kontingentbegunstiget er navngivet, såsom et barn eller et andet familiemedlem eller ven til den afdøde, og den primære begunstigede ikke kan modtage udbyttet, vil det gå videre til den næste person i rækken.
At vælge en betinget begunstiget i testamenter såvel som i forsikringer er en enkel måde at sikre, at de efterladte pårørende bliver plejet, hvis den primære begunstigede er ude af stand til at gøre det.
Det er også en måde at donere til en særlig sag eller velgørenhed efter forsikringstagerens død. Afhændelsen af aktiver kompliceres ikke af uforudsete hændelser som f.eks. den primære modtagers død.
For eksempel, hvis et testamente giver alle afdødes aktiver til ægtefællen som den primære begunstigede, men ægtefællen er ude af stand til at forvalte aktiverne, kan de gives til den betingede begunstigede, som kan være en voksent barn, på betingelse af, at barnet passer ægtefællen i deres levetid. Efter ægtefællens død, kan formuen gå til barnet.
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Med en livsforsikring kan du tage dig af din familie på den rigtige måde. Skulle der ske dig noget, vil du gerne efterlade dine kære et økonomisk redeæg for deres velbefindende. Klik på din tilstand for at finde ud af mere. Get Started There may be circumstances or stipulations that must be met before a contingent beneficiary may inherit the assets. The contingent beneficiary may need to finish college, reach a certain age or kick a drug habit, and only then they will receive the assets.
A policyholder and their primary beneficiary may die at the same time. This could happen in a car accident or natural disaster. If a contingent beneficiary has been named, the transfer of assets will be easier.
The next in line is usually someone who is financially dependent on the policyholder, but if there is no one dependent, the contingent beneficiary can be anyone else or a charity or cause. It is not advised to make the estate the contingent beneficiary of an inexpensive life insurance policy because the proceeds would be subject to the deceased’s creditors. Life insurance proceeds paid to a person are not usually subject to creditors.
If the primary beneficiary is the spouse, the contingent beneficiary may be a minor child. Consideration needs to be given as to who will manage the assets until the child reaches 18 or 21 years.
It is recommended to assign two guardians for the children including one guardian to manage the money and one guardian to look after the well-being of the child.
In policies from some of the best term life insurance companies, a person can assign a primary beneficiary, a contingent beneficiary, and a tertiary beneficiary. This is another kind of contingent beneficiary and only receives assets or proceeds from the estate or insurance company if all the primary and contingent beneficiaries are unqualified to receive the benefits or are deceased.
When a contingent beneficiary wants to claim assets, they need to provide a certified death certificate for the prime beneficiary and any other contingent beneficiaries that precede them on the list of succession as well as valid personal identification.
Each insurance company might require different documentation depending on their standards. When you name a secondary beneficiary, you need to ask what the requirements are going to be.
There are a few consequences for not naming beneficiaries.
Insurance proceeds could be subject to huge estate taxes if the policyholder names the spouse as sole beneficiary and there is no contingent beneficiary. If the insured outlives his or her spouse, by a few days if they are both in a car accident, the proceeds will pass to the estate incurring huge unnecessary taxes.
If you don’t name a beneficiary, your other family members or loved ones can lose thousands and thousands of dollars because of the taxes that are going to be placed on the payout from the policy.
The other problem is that your loved ones could struggle to actually get their hands on the money itself. Without naming a contingency, the company is going to have to determine who the money should go to, depending on your family situation, this could cause a lot of problems and delays.
A contingent beneficiary is a safety feature and a control device. It is the most practical way to control the future distribution of wealth. It’s a simple thing today, but not something that should be decided on lightly. You should spend a lot of time determining who your beneficiary should be.
It’s also something that you should continue to maintain. There are dozens of different life changes that could impact who you would want to name as your beneficiary, which means that once you’ve named the primary beneficiary, it could change years down the road. Don’t forget to look back at your policy and ensure that the beneficiary is still the valid recipient and the best choice for the policy payout.
Life insurance is the most important investment that you’ll ever make for your family and loved ones. You may ask yourself at what age should I get life insurance policy, of course, we recommend the younger the better because the more you age the more risk you are to having health problems, which will increase your premium rates. Purchasing life insurance at age 20 versus purchasing life insurance over the age of 50. Tomorrow is not the day to start your life insurance application. Begin the process today!
Time for the pop quiz! Hopefully, you know exactly what a contingent beneficiary is at this point. Not only should you know what it is, but hopefully you understand why YOU should name one.
If you want to learn more about life insurance or naming a contingent beneficiary, we researched and wrote about the process of getting life insurance. We are ready to answer those questions and ensure that you’ve got the best life insurance to fit your needs.