A beneficiary is a person or organisation named in a will or trust to receive part of an estate. Beneficiaries can inherit money, property, or specific items once debts and expenses are settled.
Legal Reference:
Defined by the will or governed by the rules of intestacy under the Administration of Estates Act 1925 if no will exists.
Beneficiaries have no legal responsibilities during probate but may challenge a will if they believe they’ve been unfairly treated.
Sources:
Wikipedia – https://en.wikipedia.org/wiki/Beneficiary_(trust)
Wikidata – https://www.wikidata.org/wiki/Q17017187
Knowledge Graph – https://www.google.com/search?kgmid=/m/02rzf_
DBpedia – http://dbpedia.org/resource/Beneficiary_(trust)
Product Ontology – http://www.productontology.org/id/Beneficiary