Beneficiary Of Trust

A trust is a legal entity that holds assets for some purpose. The beneficiary of the trust essentially represents this purpose. It is the person or organization that benefits from the trust.

Your eccentric great uncle loved his cat, so he put all his assets into a trust, which will maintain little Snowball in feline luxury after Uncle Roland passes into the great beyond. Now, that cat lives happily on a twelve-acre estate in Westchester County, waited on by four servants. That fuzzball is the beneficiary of the trust.