life beneficiary
Someone who receives benefits, under a trust or by will, only for his or her lifetime (or in rare cases, for someone else's lifetime). For an example, see bypass trust. (See also: life estate)
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • life — That state of animals, humans, and plants or of an organized being, in which its natural functions and motions are performed, or in which its organs are capable of performing their functions. The interval between birth and death. The sum of the… …   Black's law dictionary

  • life — That state of animals, humans, and plants or of an organized being, in which its natural functions and motions are performed, or in which its organs are capable of performing their functions. The interval between birth and death. The sum of the… …   Black's law dictionary

  • 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

  • life interest trust — A type of private trust where the life tenant is entitled to receive for life or a fixed period all or a fixed share of the income generated by the trust fund. On his death, the right to trust income will pass to another or the trust may come to… …   Law dictionary

  • life insurance — n: insurance providing for the payment of money to a designated beneficiary upon the death of the insured see also endowment insurance ordinary life insurance: whole life insurance in this entry straight life insurance …   Law dictionary

  • life interest — see interest 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. life interest n …   Law dictionary

  • life tenant — n: a tenant having possession of property for the duration of his or her life: one having a life estate in property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. life tenant …   Law dictionary

  • life insurance — life′ insur ance n. bus insurance providing for payment of a sum of money to a named beneficiary upon the death of the policyholder …   From formal English to slang

  • life insurance — n. insurance in which a stipulated sum is paid to the beneficiary or beneficiaries at the death of the insured, or, if specified, to the insured at a certain age …   English World dictionary

  • Life insurance — The foundation of life insurance is the recognition of the value of a human life and the possibility of indemnification for the loss of that value. F. C. Oviatt, Economic place of insurance and its relation to society[1] Life insurance is a… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”