16:22
which do i pick
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LSDefine
Simple English definitions for legal terms
distributee
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A quick definition of distributee:
A distributee is someone who gets a part of someone else's things after they die. It's like being an heir, which means you get something that belonged to someone who passed away. A distributee is usually someone who is entitled to a share of the things left behind by someone who didn't leave a will. It's like being a beneficiary, which means you get something that someone else promised to give you. In simple words, a distributee is a person who is supposed to get something from someone else's stuff.
A more thorough explanation:
A distributee is a person or party who receives a share of assets from a total of assets of a decedent. In simpler terms, a distributee could be defined as an heir; a person entitled to an interest or share in the estate distribution process.
For example, if someone dies and leaves behind a will, the people named in the will as beneficiaries are distributees. If someone dies without a will, the state's laws of intestacy determine who the distributees are.
Expectant distributee would be a prospective heir whose interest in the estate has a contingency. Legal Distributee would be a person legally entitled to take their share of property provided by a will. It is often synonymous with the word beneficiary.
In the context of trusts, a distributee is a recipient of the proceeds of the trust. For example, if someone sets up a trust and names their children as beneficiaries, the children are the distributees.
Overall, a distributee is a beneficiary entitled to some sort of payment or share of assets.