What Is a Beneficiary? Role, Types, and Examples
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What Is a Beneficiary? Role, Types, and Examples
A beneficiary is a person or entity designated to receive property from another individual. This property may be a monetary benefit received as an inheritance.
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naming beneficiaries like a POD or a TOD on a bank account is a great way to avoid the probate process. If the bank is handling things properly, all it requires is a death certificate from the person who passed away and an ID from the beneficiary. Naming beneficiaries can be an essential part of a complete estate plan along with a living trustand a durable power of attorney. | Pevney Estate Planning
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