Nettet23. sep. 2024 · Beneficiary Of Trust: A beneficiary of trust is a person for whom a trust was created, and who receives the benefits of that trust. In many instances a trust is … NettetBeneficiary Law and Legal Definition. Generally, a beneficiary is a person or entity who receives a profit, advantage, or benefit. For example, a person named to receive …
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Nettetcontingent beneficiary. n. a person or entity named to receive a gift under the terms of a will, trust or insurance policy, who will only receive that gift if a certain event occurs or a certain set of circumstances happen. Examples: surviving another beneficiary, still being married to the same spouse, having completed college, or being ... Nettetthe beneficiary's qualified higher education expenses. If a distribution from a qualified tuition program exceeds the qualified higher education expenses incurred for the beneficiary, the portion of the excess that is treated as earnings is generally subject to income tax and an additional 10-percent tax. Amounts in a qualified tuition program office depot step stools
Is The Beneficiary The Owner? - Cycuro
A beneficiary (also, in trust law, cestui que use) in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured. Most beneficiaries may be designed to designate where the assets will go when the owner(s) di… NettetBeneficiary. An organization or a person for whom a trust is created and who thereby receives the benefits of the trust. One who inherits under a will. A person entitled to a beneficial interest or a right to profits, benefit, or advantage from a contract. West's … We would like to show you a description here but the site won’t allow us. bench trial: A trial conducted before a judge presiding without a jury. incidental beneficiary. n. someone who obtains a benefit as the result of the … BEE. The name of a well known insect. 2. Bees are considered ferae naturae while … In her files, along with the policy itself, were a document showing that a further policy … Bell, John: John Bell. LIBRARY OF CONGRESS John Bell was born … Veteran financial planner and industry leader Elaine Bedel of Bedel Financial … Nettet5. aug. 2024 · A trust is a legal entity that defines how and when a beneficiary, who is a minor can receive the money, and how to manage the money until that time. At age 18, a beneficiary may have full access to all the assets and remove the trustee, unless otherwise outlined in a will. You’ll need professional advice to sort out what will work … mycirclehealth.com