Beneficiary of Trust

Beneficiary of Trust

The person or company receiving the income from a trust. The beneficiary receives a certain amount of money (usually a percentage of the trust's investment income) starting at the agreed-upon time. Depending on the type of trust, the beneficiary may be the grantor, a trustee, or some third party.
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Trust distributes $10,000 of its current-year trust accounting income to A, a beneficiary of Trust.
2) remainder person--the ultimate beneficiary of trust property, who can also be the income beneficiary.
Pursuant to the terms of the testamentary trust, Jane was entitled to all of the income payable annually and was the only permissable beneficiary of trust principal during her lifetime.
In turn, BI will be beneficiary of trust certificates drawn on a trust that will hold and liquidate a similar amount of Bancomer's assets, mostly composed of loans.