Beneficiary
A person or entity who is the recipient of or will receive some or all proceeds of money or property held by the current owner upon a specified event or condition. With regard to Trusts, the Beneficiary is the person(s), company, trust or estate named by the grantor, settlor or creator to receive the benefits of a trust in due course upon conditions which the grantor established by way of a trust deed. An exception would be the fully discretionary trust. The beneficiary could be a charity, foundation and/or person(s) which or who are characterized by “classes” in terms of their order of entitlement or their hierarchy.
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