Beneficiary is a person legally entitled to receive someone else's property or assets. No specific qualifications required, even children under 18 can be beneficiaries. Assets include retirement accounts, bank funds, art collectibles, estates, or property
Beneficiary is designated person receiving benefits of another's property. Beneficiaries can be designated for various financial products. Financial account beneficiaries override will beneficiaries
Receive assets directly from bank account without probate. Available for checking, savings, retirement, and brokerage accounts. Beneficiaries have no rights during account holder's lifetime. Can be changed by contacting bank
A beneficiary is a person or entity designated to receive assets after the owner's death. Beneficiaries can be named on bank accounts, insurance policies, and retirement accounts. Multiple beneficiaries can be designated on the same account