the.com/beneficiary
The person who gets everything once you get nothing.
means The person legally named to receive money, property, or benefits from a will, policy, or trust.
from From Latin beneficiarius, 'one who holds a benefit,' built from beneficium, 'a favor or kindness done' — itself from bene, 'well,' and facere, 'to do.' The word traveled through legal Latin for centuries describing anyone holding a benefice or granted privilege, before English narrowed it to its modern, more final sense: the one who receives when another's claim on the world ends.
- default setting
- spouse gets it unless you updated the form
- overrides a will
- named beneficiary beats your will every time
- common mistake
- forgetting to change it after divorce
- applies to
- life insurance, 401ks, and bank payable-on-death accounts