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Simple English definitions for legal terms

contingency beneficiary

Read a random definition: common-nucleus-of-operative-fact test

A quick definition of contingency beneficiary:

A contingency beneficiary is someone who is designated to receive a gift or benefit if the primary beneficiary is unable or unwilling to take it. For example, if someone names their spouse as the primary beneficiary of their life insurance policy, but also names their child as the contingency beneficiary in case the spouse passes away before them. This means that if the spouse is unable to receive the benefit, the child will receive it instead.

A more thorough explanation:

A contingency beneficiary is a person who is designated to receive a gift or benefit if the primary beneficiary is unable or unwilling to take it. For example, if a person names their spouse as the primary beneficiary of their life insurance policy, but also designates their child as the contingency beneficiary in case the spouse predeceases them or declines the benefit.

Another example of a contingency beneficiary is a person named in a will to receive a gift if the primary beneficiary is unable to take it. For instance, if a person leaves their estate to their spouse, but also designates their child as the contingency beneficiary in case the spouse dies before them.

Contingency beneficiaries are important because they ensure that the gift or benefit will still go to someone if the primary beneficiary cannot take it. This provides a backup plan and ensures that the person's wishes are still carried out.

Continental Congress | contingency reserve

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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