Related Definitions
What is a Beneficiary?
A beneficiary is any individual in line to inherit assets like money or property from a deceased individual. A beneficiary can be determined by state law or named in a will or trust document.
An individual or entity designated to receive assets or benefits from a will, trust, insurance policy, bank account, or retirement account upon the death of the grantor or policyholder. Beneficiaries can be individuals, charities, or organizations, and their rights to the assets depend on the terms of the governing document. Understanding the role of beneficiaries is crucial in estate planning, as it ensures that the grantor’s wishes regarding asset distribution are fulfilled.
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Related Articles
Insights and advice on trust and probate estate litigation from our blog.
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Executive Summary Learning How to Address a Trustee Not Acting in a Beneficiary’s Best Interest A trustee not acting in the beneficiaries’ best interest [...]
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Key Takeaways What Are Co-Trustees Co-trusteeship refers to the appointment of multiple trustees to manage and administer a trust, which is a legal arrangement [...]
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What Constitutes a Breach of Fiduciary Duty?
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Key Takeaways Introduction When a professional serves in a fiduciary role they have a responsibility to do the best possible job for the client [...]
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Key Takeaways Introduction A probate attorney is a valuable resource during the probate and estate administration process. Depending on your needs, they can support [...]
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Key Takeaways Introduction If you are planning on contesting a will or trust in California, there are specific deadlines you must follow for your [...]
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Executive summary Introduction Probate can be a helpful process for distributing the estate assets of a deceased individual to the rightful heirs and beneficiaries. [...]
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California Successor Trustee Checklist
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Key Takeaways Introduction A successor trustee is the individual first in line to take over the administration of a trust when the initial trustee [...]
- Probate Administration
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Executive Summary Learning About Probate & Non-Probate Assets in California Even when times are difficult, managing estate assets efficiently is essential to avoid legal [...]
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Key Takeaways Introduction Probate is a complex process that involves managing a deceased person’s assets and distributing them from their estate to identified beneficiaries. [...]
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Key Takeaways Understanding Will Contests A will contest is the legal process of challenging the validity of the legal document stating how a person, [...]
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Executive Summary Introduction The probate administration process is the court process by which a decedent’s creditors are paid and their remaining assets are distributed [...]