What is Beneficiary?
A '''beneficiary''' is someone who gets [[money]] or other things from somebody else.<ref>{{cite web |url=https://www.law.cornell.edu/wex/beneficiary |title=Beneficiary |website=Wex |publisher=Cornell Law School |access-date=24 July 2017}}</ref> For example, in a [[life insurance]] policy the beneficiary gets the money after the insured person dies.<ref>{{cite web|title=Update Your Insurance Beneficiary|url=http://www.benefits.va.gov/insurance/updatebene.asp |website=U.S. Department of Veterans Affairs|access-date=24 July 2017}}</ref> A beneficiary can also be the person chosen in someone's [[will (law)|will]].<ref>{{cite web|last1=Larson|first1=Aaron|title=Creating Your Last Will and Testament|url=https://www.expertlaw.com/library/estate_planning/wills.html|website=ExpertLaw|access-date=24 July 2017|date=7 June 2017|archive-date=25 September 2016|archive-url=https://web.archive.org/web/20160925112041/http://www.expertlaw.com/library/estate_planning/wills.html|url-status=dead}}</ref> The person or group who gives the money is called the [[benefactor]].<ref>{{cite web|title=Benefactor|url=https://en.oxforddictionaries.com/definition/benefactor|website=Oxford Living Dictionaries|publisher=Oxford University Press|access-date=24 July 2017|archive-date=26 September 2016|archive-url=https://web.archive.org/web/20160926081202/https://en.oxforddictionaries.com/definition/benefactor|url-status=dead}}</ref> In [[Trust law]] the beneficiary is the person who receives [[property]] from a [[trustee]].<ref>{{cite web|last1=Larson|first1=Aaron|title=What is a Trust and Why You May Need One|url=https://www.expertlaw.com/library/estate_planning/trusts.html|website=ExpertLaw|access-date=24 July 2017|date=4 May 2017|archive-date=15 December 2017|archive-url=https://web.archive.org/web/20171215000318/https://www.expertlaw.com/library/estate_planning/trusts.html|url-status=dead}}</ref> == References == {{reflist}} {{stub}} [[Category:Legal terms]]