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Simple English definitions for legal terms
expectant beneficiary
Read a random definition: limited liability partnership (LLP)
A quick definition of expectant beneficiary:
An expectant beneficiary is someone who is waiting to receive something, like money or property, from someone else's will or estate. They may not receive anything until a certain condition is met, like the death of the person who made the will. They are also called expectant distributees or prospective heirs.
A more thorough explanation:
An expectant beneficiary is a person who is entitled to receive payment or property from an estate, but their interest in the property depends on a contingency. This means that they will only receive the property if a certain condition is met.
For example, if a person's will states that their house will go to their child if the child graduates from college, the child is an expectant beneficiary. They will only receive the house if they graduate from college.
Another example is if a person's will states that their money will go to their spouse if the spouse is still alive at the time of their death. The spouse is an expectant beneficiary because their interest in the money depends on whether they are still alive when the person dies.
Overall, an expectant beneficiary is someone who has a potential interest in an estate, but their right to receive property or payment is not yet certain.