This is a preview. View original post on this site
A beneficiary is an individual who is chosen to receive the benefits of property, typically in the event that the owner passes away. The benefits are often monetary, but they can also be anything else of value that is being passed down. Beneficiaries are named in many locations:
Life insurance policies Last Will and Testament Retirement accounts Brokerage accounts Bank accounts Social Security Disability (in certain cases) Other financial products
