beneficiary


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Related to beneficiary: contingent beneficiary

beneficiary

1. Law a person entitled to receive funds or other property under a trust, will, or insurance policy
2. the holder of an ecclesiastical or other benefice
3. NZ a person who receives government assistance
References in periodicals archive ?
The second consideration is whether the now deceased account holder or participant has named a "designated beneficiary of the benefits.
The primary beneficiary is the first person (or class of persons) in line to receive the proceeds when the insured dies.
Be the principal beneficiary of a Form I-130 petition that was filed by the veteran or the veteran's surviving spouse and approved by USCIS before the qualifying petitioner requests parole on behalf of the principal beneficiary; and
Moving on to IRAs, you can ask if a named beneficiary might need protection from future creditors.
Further, the regulations under IRC Section 401 provide that, in the case of multiple beneficiaries, the beneficiary with the shortest life expectancy must be used to determine the required minimum distributions from the IRA.
* During the life of the current income beneficiary, the trust can have only one income beneficiary of the trust; * Any corpus distributed during the life of the current income beneficiary may be distributed only to that beneficiary;
The issuing bank conceded that the letter of credit beneficiary had timely presented all of the documents required by the letter of credit.
For example, the trust may distribute one-third of the trust assets to the beneficiary upon reaching age 25, one-half of the balance upon reaching age 30, and the balance upon reaching age 35.
Before making a charity a beneficiary, it should be determined if: (1) the plan contains any restrictions against naming a charity as beneficiary; and (2) the account holder is married (retirement plans other than IRAs require that the spouse waive his or her rights under the retirement plan).
The site, which is located at www.axa-equitable.com/beneficiary, features sections arranged according to beneficiary needs at each stage following a loss:
For SSI beneficiaries, small differences will exist if the beneficiary uses blindness-related work expenses, rather than impairment-related work expenses, which are both exemptions to earnings from work.
First, the present value of the stream of payments made over the term of the trust will be a gift subject to normal gift tax rules if the beneficiary is other than the donor or the donor's spouse.