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Warning
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LSDefine
Simple English definitions for legal terms
death beneficiary
Read a random definition: Electronic Commerce Directive
A quick definition of death beneficiary:
A death beneficiary is someone who receives something valuable when someone else dies. This is usually written in a special document called a will or trust.
A more thorough explanation:
Death Beneficiary
A death beneficiary is a person who receives a benefit when someone else dies. This benefit is usually given through a will or trust.
Example 1: John has a life insurance policy and names his wife, Jane, as the death beneficiary. If John dies, Jane will receive the money from the life insurance policy.
Example 2: Sarah creates a trust and names her children as the death beneficiaries. When Sarah dies, her children will receive the assets in the trust.
These examples illustrate how a death beneficiary receives a benefit when someone else dies. In example 1, Jane receives the money from John's life insurance policy. In example 2, Sarah's children receive the assets in the trust.