Beneficiaries

A person or organization that receives Assets from someone after they have died.

Beneficiaries are typically named in a Last Will & Testament; this document specifically identifies what they will receive.

Beneficiaries can also be named on an insurance policy, a retirement account, or in a property Title.

The named person or organization is designated to receive the proceeds of the policy or plan in the event of the policyholder's or plan participant's death.