beneficiary Archives - Legal Dictionary

Third Party Beneficiary

May 4, 2017 by: Content Team

A third party beneficiary is a person who benefits from a contract that is made between two other people. For example, a third party beneficiary is not a party to the contract himself but receives a benefit once the contract is satisfied. In certain situations, a third party beneficiary is afforded the legal rights necessary to enforce the contract and […]

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Beneficiary

April 22, 2015 by: Content Team

In its most basic terms, a “beneficiary” is a person or entity that receives financial or other benefits from a patron or benefactor. While the concept of a beneficiary is commonly thought of in relation to wills and trusts, it is also used in connection with insurance policies and contracts. The beneficiary of an insurance policy is the individual that […]

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Estate Planning
Trusts
Wills