What Is a Beneficiary? Here’s Everything to Know.

Naming a beneficiary is an essential step in estate planning that allows individuals to determine how their assets will be distributed in the event of their death.

By understanding the different types of beneficiaries and the importance of naming them, individuals can ensure that their assets are passed on to loved ones or causes that matter to them.

Read on for everything you need to know about beneficiaries.

What is a beneficiary?

A beneficiary is a person or entity legally designated to receive the benefits or proceeds of a trust,

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