FINAL BENEFICIARY
\fˈa͡ɪnə͡l bˌɛnɪfˈɪʃəɹi], \fˈaɪnəl bˌɛnɪfˈɪʃəɹi], \f_ˈaɪ_n_əl b_ˌɛ_n_ɪ_f_ˈɪ_ʃ_ə_ɹ_i]\
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The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.
By Oddity Software
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