Life Beneficiary at Legal Glossary

What is it? A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

Law Definition Added By: Ashley

Send To Friends!

If you'd like to send the Life Beneficiary definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Life Beneficiary. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Legal Terms:

Law Terms capitalized interest is The accrued interest that is added to the principal balance of a loan while you are not making payments or your payments are insufficient to cover both the principal and interest due. When this happens, you end up paying interest on interest, sometimes called negative amortization.

Law Terms injunctive relief is A situation in which a court grants an order, called an injunction, telling a party to refrain from doing something--or in the case of a mandatory injunction, to carry out a particular action. Usually injunctive relief is granted only after a hearing at which both sides have an opportunity to present testimony and legal arguments.

Law Terms special damages is See damages.

Law Terms discovery is A formal investigation -- governed by court rules -- that is conducted before trial. Discovery allows one party to question other parties, and sometimes witnesses. It also allows one party to force the others to produce requested documents or other physical evidence. The most common types of discovery are interrogatories, consisting of written questions the other party must answer under penalty of perjury, and depositions, which involve an in-person session at which one party to a lawsuit has the opportunity to ask oral questions of the other party or her witnesses under oath while a written transcript is made by a court reporter. Other types of pretrial discovery consist of written requests to produce documents and requests for admissions, by which one party asks the other to admit or deny key facts in the case. One major purpose of discovery is to assess the strength or weakness of an opponents case, with the idea of opening settlement talks. Another is to gather information to use at trial. Discovery is also present in criminal cases, in which by law the prosecutor must turn over to the defense any witness statements and any evidence that might tend to exonerate the defendant. Depending on the rules of the court, the defendant may also be obliged to share evidence with the prosecutor.

Law Terms specification is In patent law, the narrative portion of a patent application, which includes descriptions of the purpose, structure and operation of the invention, as well as a discussion of any relevant prior art. Essentially, the specification must provide enough information about the invention so that a person proficient in the area of expertise involved in the invention could build and operate it without having to be overly creative.