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Life Beneficiary |
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Life Beneficiary A person designated in will to receive a certain asset or instrument for the remainder of his/her life. For example, in a will, a farmer may grant ownership of his farm to his children, but they may not take possession of it while their mother is alive. In this situation, the mother is the life beneficiary and has the right to live in the farm house for the rest of her life. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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