16:56
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Simple English definitions for legal terms
favored beneficiary
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A quick definition of favored beneficiary:
A favored beneficiary is someone who is designated to receive property or benefits from a legal arrangement or instrument, such as a will or insurance policy. They may receive disproportionate amounts of the property compared to others who have equal claims to it, which can raise concerns about their undue influence over the person who made the arrangement. Other types of beneficiaries include contingent beneficiaries, who receive the property if the primary beneficiary is unable or unwilling to take it, and third-party beneficiaries, who benefit from a contract's performance even though they are not a party to the contract.
A more thorough explanation:
A favored beneficiary is a person who receives a disproportionate amount of property from a testator's will compared to others who have equal claims to the property. This can raise concerns about the beneficiary's undue influence over the testator.
For example, if a wealthy person leaves the majority of their estate to their personal assistant, who has no familial relationship with them, it may suggest that the assistant exerted undue influence over the testator to receive such a large inheritance.
Another example could be a parent leaving a significantly larger portion of their estate to one child over others, without any clear justification for the discrepancy.
Overall, a favored beneficiary is someone who receives a larger share of property than others, which can raise questions about the fairness and validity of the will.