Beneficiary

Someone entitled or benefiting under a will.

The term beneficiary is used when referring to a person who is to receive a gift or legacy under a will.

As a potential beneficiary it is important that the person concerned does not inadvertently witness the making of the will, as this will invalidate the specific gift to the beneficiary, although it will not invalidate the remaining part of the will.

It is also a broad definition for any person or entity (like a charity) who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution.

 

(Adapted from Law.com Law Dictionary)

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