A beneficiary is an individual who profits from an event. From a financial perspective, a beneficiary is the person paid from a trust, insurance policy, or inheritance. A beneficiary is usually named specifically in a trust document, insurance policy, or will as the person to whom assets will be paid. Payments to a beneficiary may have stipulations, such as reaching the age of 21 before any payments will be made.

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Family Tax Planning 
Fiduciary Accounting