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Naming a beneficiary ensures that your assets go to the people who you want to have them. If you don’t name a beneficiary, a court may end up directing assets to where it sees fit. You avoid ...
Qualified beneficiaries" are defined as a beneficiary who, on the date the beneficiary's qualification is determined: (A) is a distributee or permissible distributee of trust income or principal; (B) would become a distributee or permissible distributee of trust income or principal if a present distributees' interest ended on that date without ...
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 ...
In addition to naming a primary or sole beneficiary, you are likely to be asked to name one or more contingent beneficiaries.These backup beneficiaries will come into play in the event the primary ...
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.
the act of "appointing" (i.e. giving) an asset from the trust to a beneficiary (usually where there is some choice in the matter—such as in a discretionary trust); or; the name of the document which gives effect to the appointment. The trustee's right to do this, where it exists, is called a power of appointment. Sometimes, a power of ...
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