Beneficiary definition: Copy, customize, and use instantly
Introduction
The term "Beneficiary" refers to an individual or entity designated to receive benefits, assets, or entitlements under a legal document such as a will, trust, or insurance policy. It is essential for clarifying who will receive certain rights, property, or benefits and ensuring the proper transfer of assets according to the terms of the document.
Below are various examples of how "Beneficiary" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Beneficiary" as an individual designated under a will
This definition ties "Beneficiary" to an individual named in a will.
"Beneficiary" means an individual or entity designated in a will or trust to receive assets or benefits upon the death of the decedent.
Definition of "Beneficiary" as a party entitled to life insurance proceeds
This definition connects "Beneficiary" to life insurance payouts.
"Beneficiary" refers to a person or entity entitled to receive the proceeds from a life insurance policy upon the death of the insured.
Definition of "Beneficiary" as an individual entitled to retirement benefits
This definition links "Beneficiary" to retirement or pension plans.
"Beneficiary" means the individual or entity entitled to receive retirement benefits or pension payments upon the death of the plan participant.
Definition of "Beneficiary" as an entity entitled to receive trust assets
This definition applies "Beneficiary" to a person or entity entitled to trust distributions.
"Beneficiary" refers to an individual or entity who is designated to receive distributions from a trust according to the trust’s terms.
Definition of "Beneficiary" as an individual entitled to inherit property
This definition connects "Beneficiary" to the inheritance of assets.
"Beneficiary" means a person entitled to receive property or assets through inheritance, as stipulated by a will or by intestate succession.
Definition of "Beneficiary" as a person entitled to charitable donations
This definition ties "Beneficiary" to charity-based donations.
"Beneficiary" refers to an individual or organization that is designated to receive a charitable donation, bequest, or gift under a will or trust.
Definition of "Beneficiary" as a recipient of employee benefits
This definition applies "Beneficiary" to employee benefit plans.
"Beneficiary" means the person or entity designated to receive employee benefits, such as health insurance or retirement benefits, in the event of the employee’s death.
Definition of "Beneficiary" as a person designated in a contractual agreement
This definition links "Beneficiary" to a contractual arrangement.
"Beneficiary" refers to an individual or party designated to receive specific benefits or payments as stipulated under a contractual agreement.
Definition of "Beneficiary" as a party entitled to payments under a life insurance trust
This definition connects "Beneficiary" to life insurance trusts.
"Beneficiary" means the party designated to receive payments or distributions from a life insurance trust following the death of the insured.
Definition of "Beneficiary" as a recipient under a family trust
This definition ties "Beneficiary" to a family trust arrangement.
"Beneficiary" refers to an individual or group entitled to receive benefits, assets, or income from a family trust, as specified by the trust’s terms.
Definition of "Beneficiary" as an individual entitled to an annuity payment
This definition connects "Beneficiary" to annuity payments.
"Beneficiary" means a person designated to receive periodic annuity payments after the death of the original holder of the annuity.
Definition of "Beneficiary" as a party entitled to receive funds from a testamentary trust
This definition links "Beneficiary" to a testamentary trust.
"Beneficiary" refers to an individual or entity entitled to receive distributions from a testamentary trust established under a will after the testator's death.
Definition of "Beneficiary" as a person designated to receive assets in case of incapacity
This definition applies "Beneficiary" to incapacity scenarios.
"Beneficiary" means an individual or entity designated to receive assets or manage affairs in the event of the grantor’s incapacity, as specified in a durable power of attorney or similar document.
Definition of "Beneficiary" as a designated recipient under a special needs trust
This definition ties "Beneficiary" to special needs trusts.
"Beneficiary" refers to an individual designated to receive benefits from a special needs trust, ensuring eligibility for government assistance programs while receiving private benefits.
Definition of "Beneficiary" as a party to receive benefits in case of policyholder's death
This definition connects "Beneficiary" to life insurance policyholders.
"Beneficiary" means the individual or entity entitled to receive death benefits from a life insurance policy following the death of the policyholder.
Definition of "Beneficiary" as a person named in a fiduciary arrangement
This definition links "Beneficiary" to fiduciary relationships.
"Beneficiary" refers to a person or entity that benefits from the actions of a fiduciary, such as a trustee, who is obligated to act in their best interests under the terms of the trust or will.
Definition of "Beneficiary" as a party designated to receive financial benefits under a will
This definition applies "Beneficiary" to a will context.
"Beneficiary" refers to an individual or entity entitled to receive financial or other benefits specified in a will upon the death of the testator.
Definition of "Beneficiary" as a party who benefits from a legal settlement
This definition ties "Beneficiary" to a legal settlement.
"Beneficiary" means the individual or entity who is entitled to receive proceeds from a legal settlement or judgment, as specified in the settlement agreement.
Definition of "Beneficiary" as a designated recipient under a pension plan
This definition links "Beneficiary" to pension plans.
"Beneficiary" refers to the person designated to receive pension benefits or survivor benefits under the terms of a pension or retirement plan upon the plan participant’s death.
Definition of "Beneficiary" as a person designated in a contractual agreement
This definition links "Beneficiary" to a contractual arrangement.
"Beneficiary" refers to an individual or party designated to receive specific benefits or payments as stipulated under a contractual agreement.
Definition of "Beneficiary" as a party entitled to receive funds from a life insurance trust
This definition connects "Beneficiary" to life insurance trusts.
"Beneficiary" means the party designated to receive payments or distributions from a life insurance trust following the death of the insured.
Definition of "Beneficiary" as a recipient under a family trust
This definition ties "Beneficiary" to a family trust arrangement.
"Beneficiary" refers to an individual or group entitled to receive benefits, assets, or income from a family trust, as specified by the trust’s terms.
Definition of "Beneficiary" as an individual entitled to an annuity payment
This definition connects "Beneficiary" to annuity payments.
"Beneficiary" means a person designated to receive periodic annuity payments after the death of the original holder of the annuity.
Definition of "Beneficiary" as a party to receive benefits in case of policyholder's death
This definition links "Beneficiary" to life insurance policyholders.
"Beneficiary" means the individual or entity entitled to receive death benefits from a life insurance policy following the death of the policyholder.
Definition of "Beneficiary" as a person named in a fiduciary arrangement
This definition connects "Beneficiary" to fiduciary relationships.
"Beneficiary" refers to a person or entity that benefits from the actions of a fiduciary, such as a trustee, who is obligated to act in their best interests under the terms of the trust or will.
Definition of "Beneficiary" as a party designated to receive financial benefits under a will
This definition applies "Beneficiary" to a will context.
"Beneficiary" refers to an individual or entity entitled to receive financial or other benefits specified in a will upon the death of the testator.
Definition of "Beneficiary" as a party who benefits from a legal settlement
This definition ties "Beneficiary" to a legal settlement.
"Beneficiary" means the individual or entity who is entitled to receive proceeds from a legal settlement or judgment, as specified in the settlement agreement.
Definition of "Beneficiary" as a designated recipient under a pension plan
This definition links "Beneficiary" to pension plans.
"Beneficiary" refers to the person designated to receive pension benefits or survivor benefits under the terms of a pension or retirement plan upon the plan participant’s death.
Definition of "Beneficiary" as a person entitled to inherit from an intestate estate
This definition connects "Beneficiary" to inheritance from an intestate estate.
"Beneficiary" means a person entitled to inherit assets from an estate where the decedent did not leave a will, according to applicable state law.
Definition of "Beneficiary" as an individual designated in a living trust
This definition ties "Beneficiary" to a living trust.
"Beneficiary" refers to a person or entity entitled to receive assets or benefits from a living trust established during the life of the grantor.
Definition of "Beneficiary" as a recipient of benefits under a special needs trust
This definition links "Beneficiary" to special needs trusts.
"Beneficiary" means a person designated to receive benefits from a special needs trust, ensuring eligibility for government assistance programs while receiving private benefits.
Definition of "Beneficiary" as a designated recipient under a scholarship fund
This definition applies "Beneficiary" to scholarship funds.
"Beneficiary" refers to an individual designated to receive financial assistance or benefits from a scholarship fund for educational purposes.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.