A beneficiary is a person or entity who inherits assets from someone who died. People often name beneficiaries in their wills and on their financial accounts.
The beneficiary is typically a person, but it could be any number of individuals, as well as other entities: A trustee of your trust Your estate A charity or other such organization A single person Two or more people As the owner of the asset, you can generally direct it to the person...
The primary beneficiary is the first choice of beneficiary made by a financial account owner. While other beneficiaries also may be listed in account or estate documents, this person or organization will receive all of the assets in the account. Contingent A contingent beneficiary is a secondary b...
When setting up a will or trust, you designate a person, business or other legal entity to receive the proceeds from the estate or trust: The recipient is known as a beneficiary. A will or trust may also name secondary beneficiaries. These recipients receive proceeds from the estate or trust...
What is a beneficiary? Simply put, a beneficiary receives your assets after you die. It can be an individual, a charity or a trust that you've set up. You can have one beneficiary for an account or other asset, or divide it among several. ...
I wasn’t the only beneficiary (受益人). My father became the wealthiest man in town. My brother and stepbrothers became a physician, a dentist, a lawyer, and a college president. 1. What can be learnt about the author from Paragraph 2? A. He was the worst boy in the town. B. ...
Why should I choose a contingent beneficiary for my estate? There are a number of reasons why choosing a contingent beneficiary is a wise move. In the case of unforeseen circumstances, it is always best to plan ahead to save a lot of time, money and legal headache. ...
What Is a Bank Account Beneficiary? What is an IRA Beneficiary? What is a Personal Trust? What is a Contingent Beneficiary? What is a Private Annuity Trust? Discussion Comments WiseGeek, in your inbox Our latest articles, guides, and more, delivered daily. ...
A beneficiary is the person you’re sending money to - also known as a recipient. A beneficiary can be a person, or a business entity. A beneficiary bank is the bank which holds the account you’re sending money to. So if you’re sending money to your brother - your beneficiary - wh...
account, or adding a named beneficiary to an existing account, is easy. Ask your bank for the forms to name a beneficiary on your account. Your banker should provide you with paperwork previously called a Totten Trust. You can name a primary beneficiary and contingent beneficiary on the same...