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beneficiary definition
a broad definition for any person or entity (like a charity) who is to receive assets
or profits from an estate, a trust, an insurance policy or any instrument in which
there is distribution. There is also an "incidental beneficiary" or a "third party
beneficiary" who gets a benefit although not specifically named, such as someone
who will make a profit if a piece of property is distributed to another.
See also incidental beneficiary third-party beneficiary
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