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A beneficiary is someone who receives a financial asset that was once owned by someone else. Choosing beneficiaries helps ensure that your assets go to the right people once you pass on. It’s a ...
No beneficiary or his/her spouse will be entitled to receive any devise, legacy, estate, interest, gift or appointment if the beneficiary or his/her spouse is the attesting witness to the will. Sound Mind. The testator must be of 'sound mind' ("testamentary capacity") as provided by Section 3 of the Wills Act 1959. [12]
The modern view is that where a beneficiary was intended to inherit part of the residuary estate who predeceases the testator, and that beneficiary is not covered by the anti-lapse statute, then that beneficiary's inheritance will return to the residuary estate, to be inherited by the other beneficiaries to whom the residue has been willed.
A beneficiary fund is defined as a pension fund organization in the Pension Funds Act No.24 of 1956 of South Africa, as amended in 2008. [1] A beneficiary fund is a uniquely South African entity designed to accept and administer lump sum death benefits allocated in their discretion by retirement fund trustees to the minor dependants of deceased retirement fund members, as set out in section ...
When the probate court determines that the doctrine applies to a lifetime gift made to a will beneficiary, the amount beneficiary's gift under the will is reduced by the amount the beneficiary has already received. For example, if the will bequeaths $5,000 to a beneficiary, but the beneficiary received a lifetime gift of $4,000 from testator ...
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In addition, section 48 of the Insurance Contracts Act 1984 (Cth) allows third-party beneficiaries to enforce contracts of insurance. Although damages are the usual remedy for the breach of a contract for the benefit of a third party, if damages are inadequate, specific performance may be granted (Beswick v. Beswick [1968] AC 59).
Counterfactual analysis enables evaluators to attribute cause and effect between interventions and outcomes. The 'counterfactual' measures what would have happened to beneficiaries in the absence of the intervention, and impact is estimated by comparing counterfactual outcomes to those observed under the intervention.