Final beneficiary

{
  "id": "MLC-T-LAW-002119",
  "term": "Final beneficiary",
  "field": "Law",
  "definition": "A beneficiary entitled to receive the remaining trust property when the trust ends, after the interests of income beneficiaries or earlier takers have terminated. The trust instrument names the final beneficiaries or fixes them by its terms, and their interest may stay contingent until the termination date arrives. They differ from income beneficiaries, who receive distributions only while the trust continues.",
  "url": "https://mlchart.com/terminology/law/final-beneficiary/"
}