Beneficiary

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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 person who made the policy 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 | change source]

  1. "Beneficiary". Wex. Cornell Law School. https://www.law.cornell.edu/wex/beneficiary. Retrieved 24 July 2017.
  2. "Update Your Insurance Beneficiary". U.S. Department of Veterans Affairs. http://www.benefits.va.gov/insurance/updatebene.asp. Retrieved 24 July 2017.
  3. Larson, Aaron (7 June 2017). "Creating Your Last Will and Testament". ExpertLaw. https://www.expertlaw.com/library/estate_planning/wills.html. Retrieved 24 July 2017.
  4. "Benefactor". Oxford Living Dictionaries. Oxford University Press. https://en.oxforddictionaries.com/definition/benefactor. Retrieved 24 July 2017.
  5. Larson, Aaron (4 May 2017). "What is a Trust and Why You May Need One". ExpertLaw. https://www.expertlaw.com/library/estate_planning/trusts.html. Retrieved 24 July 2017.