Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Trust Beneficiary

Read a random definition: new debtor

A quick definition of Trust Beneficiary:

A trust beneficiary is someone who benefits from a trust. A trust is like a special box that holds things like money or property. The trustee is the person who takes care of the box and makes sure everything is safe. The beneficiary is the person who gets to use or receive the things inside the box. It's like having a piggy bank that someone else takes care of for you, but you get to use the money inside when you need it.

A more thorough explanation:

Definition: The trust beneficiary is the person or entity that benefits from the assets held in a trust. The trustee holds the title to the trust property for the benefit of the beneficiary.

Example: John creates a trust and names his daughter, Sarah, as the beneficiary. The trust holds John's assets, such as his house and investments. Sarah will receive the benefits of these assets, such as rental income from the house and dividends from the investments, as determined by the terms of the trust.

Explanation: In this example, Sarah is the trust beneficiary because she is the person who benefits from the assets held in the trust. The trustee, who is responsible for managing the trust assets, holds the title to the assets for Sarah's benefit. The terms of the trust dictate how and when Sarah will receive the benefits of the assets.

trust administration | trust corpus

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
10:43
I got 2 weeks left of this shit and I have 0 motivation
10:55
@RasheedWallaceFan: yeah for some reason SMU isnt listed on any of the rankings lists. Been that way all year
@NemoPropheta: you only got another 40+ years of it!
@PremiumFrequentCrane Is right.
You'll forever have those days where shit ain't getting done. Just a matter of how you handle them. (IE using Chatgpt to draft a motion for leave like meeeee)
NosyBeagle
13:52
look at my lawyer dawg... im going to jail
Nah, I don't use it to do my case law. Just the actual motion drafting.
For example, I was trying to get the right language in a Motion for Sanctions (tl;dr slip and fall case, defense counsel played nothing but games – IE never sending records despite it being mandatory to trcp, producing never before seen records DURING A DEPO) and just talked to ChatGPT about his behavior to provide background to help with the drafting for the procedural paragraph.
@NosyBeagle: just makes me think of vanillamace
@TiredOfThisGrandpa: I dont have LSD+ so cant dm but will def hit you up when I have them done! Also is ur username a reference to holes? lol
Can i get accommodations for mid test 2 hour nap
I mean, i have sadhd
15:34
you could get accommodations for the schizoaffective disorder you clearly have
NosyBeagle
15:53
a two hour nap in between sections would be great for me
ronniedoeslaw
15:58
LSAT isn’t horrible you just have to lock in really hard for 2 hours and expect to be exhausted the rest of the day mentally
16:30
ugh i hit this lady w my car
16:31
well i hit her car and the cops said there's no damage but she says there is should i call my insurance what u think lawyers
real quick question. How much do early applications matter? I have super strong softs and an ok LSAT score of 160. GPA wasn't great at 3.33. I applied in late march and I have been rejected everywhere so far
16:58
late march is way too late
16:58
early doesn’t matter but before thanksgiving matters
ronniedoeslaw
16:59
Have you used the LSAC search for schools link? It helps a lot letting you know the probability of acceptance.
I mean early early might be overblown but dont apply if you are applying in march
does anyone know how many questions they typically ask for the UT recorded interview
20:21
has anyone been accepted off of the waitlist for New England yet?
ronniedoeslaw
20:36
No yet for me, I was waitlisted on Monday
ronniedoeslaw
20:36
Not *
[deleted by esoterica]
don't be a dick bro
ronniedoeslaw
14:19
Foreal
ronniedoeslaw
14:20
The name says it all lol
LSD+ is ad-free, with DMs, discounts, case briefs & more.