A beneficiary is an individual or organization that is the recipient of monies, real and personal property. A will, trust and life insurance are the most common vehicles in which a beneficiary is named and receives benefits. There are other types of  agreements that name beneficiaries as well.


It is important to properly name beneficiaries. Invalid contracts and wills can cause a named beneficiary to lose their rights. Also, an event must occur in order for the beneficiary to be able to possess property, receive funds or enjoy the benefits granted. Some events include:

  • Dea
  • Relinquenshing possession of real estate
  • Beneficiary reaches a specific age stated in a trust
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