beneficiaries

Definition

The lucky souls legally designated to receive your money, assets, or insurance payout after you've shuffled off this mortal coil—or sometimes while you're still using it. They're the people you're incentivizing to keep you alive, or in some noir scenarios, quite the opposite. Estate planning's way of playing favorites from beyond the grave, ensuring your ungrateful nephew gets exactly nothing while your cat inherits the vacation home.

Example Usage

After updating his life insurance beneficiaries post-divorce, Mark ensured his ex-wife wouldn't be buying a yacht with his demise money.

Source: Legal and financial terminology

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pending

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