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A contingent beneficiary is someone who benefits from a contingent contract; they profit from a promise, which may or may be fulfilled, to do or abstain from doing a ...
A contingent beneficiary, often called a secondary beneficiary, is a backup to your primary beneficiary in your life insurance policy. The contingent beneficiary comes into play only when the ...
A secondary beneficiary, also called a contingent beneficiary, is a person or entity entitled to get a distribution of assets from an estate or trust after the estate owner's death if the primary ...
Contingent beneficiaries: These are the backup beneficiaries. If the primary beneficiary is no longer alive or unable to receive the money, the contingent beneficiary steps in to receive the payout.
A beneficiary in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured. In trust law, beneficiaries are also known as cestui que use.
B 's estate is a vested remainder since the remainder is given to an ascertained person (B) and there are no precedent conditions (such as "if B is not married"). " A for life, then to B if B reaches 21, and if B does not reach 21 then to C and C 's heirs" B 's and C 's estates are both contingent remainders.
What Is a Beneficiary Designation? A beneficiary designation assigns a person or party to receive benefits from a financial product, such as a retirement account or life insurance policy. For ...
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 ...