CONTINGENT BENEFICIARY
\kəntˈɪnd͡ʒənt bˌɛnɪfˈɪʃəɹi], \kəntˈɪndʒənt bˌɛnɪfˈɪʃəɹi], \k_ə_n_t_ˈɪ_n_dʒ_ə_n_t b_ˌɛ_n_ɪ_f_ˈɪ_ʃ_ə_ɹ_i]\
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An alternate beneficiary named in a will, trust or other document. Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.
By Oddity Software
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).