Business, Legal & Accounting Glossary
A trust beneficiary that is entitled to immediately receive benefits from that trust. These may be unrestricted, or limited to trust income. In many cases when a trust is formed, this stipulation is used to make charitable donations immediately available to charities upon the grantor’s death, though this can also refer to any individual or organization that receives immediate benefits from the trust’s assets.
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This glossary post was last updated: 20th November, 2021 | 0 Views.