NettetA beneficiary is a person (or other legal entity) for whose benefit trust property is held. A beneficiary is usually a natural person, however, it is plausible that they may also be a corporate or other legal entity. The beneficiary under a trust has a beneficial (equitable interest) in the trust property which is subject to the administration ... NettetA beneficiary is an individual named in a will, revocable trust, or irrevocable trust to receive property from a testator or grantor. A beneficiary is usually definitive, which is …
Beneficiary legal definition of beneficiary
NettetBeneficiary. An organization or a person for whom a trust is created and who thereby receives the benefits of the trust. One who inherits under a will. A person entitled to a beneficial interest or a right to profits, benefit, or advantage from a contract. West's … We would like to show you a description here but the site won’t allow us. bench trial: A trial conducted before a judge presiding without a jury. incidental beneficiary. n. someone who obtains a benefit as the result of the … BEE. The name of a well known insect. 2. Bees are considered ferae naturae while … In her files, along with the policy itself, were a document showing that a further policy … Bell, John: John Bell. LIBRARY OF CONGRESS John Bell was born … Veteran financial planner and industry leader Elaine Bedel of Bedel Financial … Nettetcontingent beneficiary. n. a person or entity named to receive a gift under the terms of a will, trust or insurance policy, who will only receive that gift if a certain event occurs or a certain set of circumstances happen. Examples: surviving another beneficiary, still being married to the same spouse, having completed college, or being ... synonym for consisting of
Legal Beneficiary Definition Law Insider
NettetAn incidental beneficiary is a third party who benefits from a contract between two other parties, but it is not intended that the third party benefit. Therefore, the third party does not have any legal rights under the contract. wex. contracts. wex definitions. NettetTrust. A trust is a legal relationship created (in lifetime, or on death) by a settlor when assets are placed under the control of a trustee for the benefit of a beneficiary, or for a specified purpose. The trust assets constitute a separate fund and are not a part of the trustee's own estate. Legal title to the trust assets stands in the name ... synonym for conspired