Beneficiary
person or other legal entity who receives money or other benefits from a benefactor
A beneficiary is someone who gets money or other things from somebody else.[1] For example, in a life insurance policy the beneficiary gets the money after the insured person dies.[2] A beneficiary can also be the person chosen in someone's will.[3] The person or group who gives the money is called the benefactor.[4] In Trust law the beneficiary is the person who receives property from a trustee.[5]
References
change- ↑ "Beneficiary". Wex. Cornell Law School. Retrieved 24 July 2017.
- ↑ "Update Your Insurance Beneficiary". U.S. Department of Veterans Affairs. Retrieved 24 July 2017.
- ↑ Larson, Aaron (7 June 2017). "Creating Your Last Will and Testament". ExpertLaw. Archived from the original on 25 September 2016. Retrieved 24 July 2017.
- ↑ "Benefactor". Oxford Living Dictionaries. Oxford University Press. Archived from the original on 26 September 2016. Retrieved 24 July 2017.
- ↑ Larson, Aaron (4 May 2017). "What is a Trust and Why You May Need One". ExpertLaw. Archived from the original on 15 December 2017. Retrieved 24 July 2017.
