MLchartDataset catalogue

Life beneficiary

Term · Law · MLC-T-LAW-003036

An individual who receives income or benefits from a trust or estate for the duration of their lifetime. Upon the death of the life beneficiary, the remaining assets typically pass to a different set of beneficiaries, known as remainder beneficiaries. This arrangement is common in estate planning to provide for a person without granting them full control over the principal.

Table 1. Record
IdentifierMLC-T-LAW-003036
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003036",
  "term": "Life beneficiary",
  "field": "Law",
  "definition": "An individual who receives income or benefits from a trust or estate for the duration of their lifetime. Upon the death of the life beneficiary, the remaining assets typically pass to a different set of beneficiaries, known as remainder beneficiaries. This arrangement is common in estate planning to provide for a person without granting them full control over the principal.",
  "url": "https://mlchart.com/terminology/law/life-beneficiary/"
}

Record 2,989 of 5,441 in Law terminology (MLC-0107). Request the full dataset.