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  2. What is an irrevocable beneficiary? - AOL

    www.aol.com/finance/irrevocable-beneficiary...

    Pros and cons of an irrevocable beneficiary Naming someone as an irrevocable beneficiary has its advantages, but it also comes with a few challenges. Here’s a breakdown of the key pros and cons ...

  3. I'm a Trustee. Can I Remove a Beneficiary From a Trust? - AOL

    www.aol.com/trustee-remove-beneficiary-trust...

    Trustee vs. Beneficiary Rights and Responsibilities. A trust is a legal arrangement in which one person, called a grantor, transfers the management of assets to someone else.

  4. Spendthrift trust - Wikipedia

    en.wikipedia.org/wiki/Spendthrift_trust

    Most well-drafted irrevocable trusts contain spendthrift provisions even though the beneficiaries are not known to be spendthrifts. This is because such a provision protects the trust and the beneficiary in the event a beneficiary is sued and a judgment creditor attempts to attach the beneficiary's interest in the trust.

  5. What Are the Differences Between Beneficiary Designations and ...

    www.aol.com/beneficiary-designations-vs-wills...

    What Is a Beneficiary Designation? A beneficiary designation assigns a person or party to receive benefits from a financial product, such as a retirement account or life insurance policy. For ...

  6. What happens if your life insurance beneficiary dies ... - AOL

    www.aol.com/finance/happens-life-insurance...

    Using the same scenario with three beneficiaries (A, B and C) set to receive a $300,000 death benefit, if beneficiary C dies, the death benefit would now be split equally between the two remaining ...

  7. 529 plan - Wikipedia

    en.wikipedia.org/wiki/529_plan

    529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...

  8. Illinois Guardianship and Advocacy Commission - Wikipedia

    en.wikipedia.org/wiki/Illinois_Guardianship_and...

    As of 2022, the Commission provides legal representation, investigates complaints of rights violations, and provides state guardianship for Illinois' population with disabilities. [1] Although the commission is a quasi-independent panel, it is a fully-staffed, taxpayer-funded State of Illinois agency.

  9. Successor Beneficiary Rules You Really Need to Know - AOL

    www.aol.com/finance/successor-beneficiary-rules...

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