58 Who is a Beneficiary in a Will?
▼
• Beneficiary = receiver + enforcer of rights under the Will
• A good beneficiary clause = clear, complete, conditional, and legally enforceable
• A beneficiary in a Will is a person, organization, or legal entity designated by
the testator to
receive property, assets, or any benefit from the estate upon the testator’s death; such
beneficiary derives rights directly from the Will and becomes entitled to the bequeathed
property after the death of the testator, subject to payment of debts, taxes, and expenses, and
is distinct from a nominee or executor as the beneficiary is the ultimate owner of the assets
distributed under the Will in accordance with the Indian Succession Act, 1925.