beneficiary of a gift, will or trust
- beneficiary of a gift, will or trust
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England, Wales
In the context of a gift, will or trust, a person who receives a gift of money or other assets from a benefactor. The gift can be in the form of an outright gift, or in held in trust for the beneficiary.
USA
Under a letter of credit, the party to whom and for whose benefit the letter of credit is issued.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
Look at other dictionaries:
beneficiary — ben·e·fi·cia·ry /ˌbe nə fi shē ˌer ē, fi shə rē/ n pl ries: a person or entity (as a charity or estate) that receives a benefit from something: as a: the person or entity named or otherwise entitled to receive the principal or income or both from … Law dictionary
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Beneficiary — Ben e*fi ci*a*ry, n.; pl. {Beneficiaries}. 1. A feudatory or vassal; hence, one who holds a benefice and uses its proceeds. Ayliffe. [1913 Webster] 2. One who receives anything as a gift; one who receives a benefit or advantage; esp. one who… … The Collaborative International Dictionary of English
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