Beneficiary

This refers to the person, or in some cases organization, that benefits from your Last Will. In other words, a beneficiary is someone that receives your tangible or digital assets after your passing. There are also multiple types of beneficiaries.

A sole beneficiary is the only individual who inherits property. Having several beneficiaries means that there are multiple individuals who will inherit property according to your Last Will. Sometimes the original beneficiaries cannot or will not inherit the property. In that case, there usually is an alternate sole beneficiary. Alternatively, there might be multiple alternate beneficiaries instead.