What is a beneficiary? Who can I name as a beneficiary?
An individual or group of individuals for whom a trust is created are its beneficiaries, such as children, for example. The trust creator or grantor names the beneficiaries. In addition, a trustee, tasked with a fiduciary duty to manage trust assets in the best interests of beneficiaries, is also designated by the creator in the trust agreement. You can pretty much name any person or charitable organization as a beneficiary.
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