BENEFICIARY

Beneficiary

In trust law, a beneficiary or cestui que use, a.k.a. cestui que trust, is the person or persons who are entitled to the benefit of any trust arrangement. A beneficiary will normally be a natural person, but it is perfectly possible to have a company as the beneficiary of a trust, and this often happens in sophisticated commercial transaction structures. With the exception of charitable trusts, and some specific anomalous non-charitable purpose trusts, all trusts are required to have ascertainable beneficiaries.

The above text is a snippet from Wikipedia: Beneficiary (trust)
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beneficiary

Noun

  1. One who benefits or receives an advantage.
    You are the lucky beneficiary of this special offer.
  2. One who benefits from the distribution, especially of an estate.
    If any beneficiary does not survive the Settlor for a period of 30 days then the Trustee shall distribute that beneficiary’s share to the surviving beneficiaries by right of representation.

Adjective

  1. Holding some office or valuable possession, in subordination to another; holding under a feudal or other superior; having a dependent and secondary possession.
  2. Bestowed as a gratuity.
    beneficiary gifts


The above text is a snippet from Wiktionary: beneficiary
and as such is available under the Creative Commons Attribution/Share-Alike License.

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