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  2. Can I Name a Minor as a Beneficiary? - AOL

    www.aol.com/finance/name-minor-beneficiary...

    You cannot name a legal minor as a beneficiary. This applies to almost all legal documents, most notably wills and life insurance policies. The significant exception to this rule is trusts.

  3. What is an irrevocable beneficiary? - AOL

    www.aol.com/finance/irrevocable-beneficiary...

    Naming minor children as beneficiaries, whether irrevocable or not, is generally not advisable. Instead, consider naming an adult or creating a trust to manage the funds on behalf of your children.

  4. Beneficiary (trust) - Wikipedia

    en.wikipedia.org/wiki/Beneficiary_(trust)

    In trust law, a beneficiary (also known by the Law French terms cestui que use and 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 ...

  5. What are contingent beneficiaries? - AOL

    www.aol.com/finance/contingent-beneficiaries...

    Adults vs. minors: Naming adults as beneficiaries is straightforward, but if you want to name a minor, there are additional steps you should take, such as creating a trust or custodial account to ...

  6. What Exactly Do I Need to Know About Beneficiaries? - AOL

    www.aol.com/exactly-know-beneficiaries-132408610...

    A beneficiary is a person or entity you designate to receive the benefits of a particular account or policy after your death. Designating, reviewing and updating beneficiaries are basic tasks of ...

  7. Waqf - Wikipedia

    en.wikipedia.org/wiki/Waqf

    The beneficiaries must not be at war with the Muslims. Scholars stress that non-Muslim citizens of the Islamic state (dhimmi) can definitely be beneficiaries. The beneficiaries may not use the waqf for a purpose in contradiction of Islamic principles. There is dispute over whether the founder themselves can reserve exclusive rights to use waqf.

  8. Custodial account - Wikipedia

    en.wikipedia.org/wiki/Custodial_Account

    A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. [1]

  9. Can You Name a Child As Your IRA Beneficiary? - AOL

    www.aol.com/finance/name-child-ira-beneficiary...

    Continue reading → The post Minor Child as IRA Beneficiary: Requirements appeared first on SmartAsset Blog. ... Another option is to establish a trust. This option can be more costly and time ...