The meaning of BENEFICIARY is a person or thing that receives help or an advantage from something : one that benefits from something. How to use beneficiary in a sentence. Did you know?
a person or group that receives benefits, profits, or advantages. a person designated as the recipient of funds or other property under a will, trust, insurance policy, etc. Ecclesiastical.the holder of abenefice. Discover More Other Words From ...
Here are a few points to further understand the meaning of "beneficiary": Insurance Policies: In insurance, the beneficiary is the person or entity named to receive the proceeds of the policy upon the death of the insured person. For example, in a life insurance policy, the beneficiary may ...
What is a beneficiary of a trust? A beneficiary is the person who is granted the equitable title of some property, meaning that they get to enjoy the benefits and use of the property but have no control of the property. Thetrustee, who is given legal title of the property, maintains ...
The entitlement of those others is called the beneficial (or equitable) interest. Collins Dictionary of Law © W.J. Stewart, 2006 BENEFICIARY. This term is frequently used as synonymous with the technical phrase cestui que trust. (q. v.) HEIR, BENEFICIARY. A term used in the civil law....
Beneficiary/Beneficiariesshall have the meaning set forthin Clause10.1.1(a); Sample 1 Beneficiary/Beneficiariesany of the following bodies: (i) theMinistry of Economic Affairsand Communications of the Republic of Estonia; (ii) theMinistry of Transportof the Republic of Latvia; and (iii) The Mini...
n. someone who obtains a benefit as the result of the main purpose of the trust. Example: the co-owner of property with a named beneficiary may benefit from moneys provided to improve the building they jointly own, or a grandchild might benefit from his/her parent receiving a gift which ...
Beneficiaries have the right to certain information about the trust, which may include seeing the trust document — if the trust is irrevocable, meaning it can't be changed. If you're the beneficiary of a revocable trust, which can be changed, you may not have access to information and det...
Financial Security:Being named as an absolute beneficiary guarantees you a specific portion of the trust or insurance policy, offering you a level of financial stability. Clear and Absolute Rights:Absolute beneficiaries have unchangeable and undeniable rights, giving them peace of mind about their finan...
thanks to the SECURE Act, the SECURE Act means that we can only stretch out those pre-tax accounts 10 years, meaning stretch out paying the taxes over 10 years. And that’s regardless of whether we name a trust, one of our trusts that qualify as a designated ...