"Estate beneficiaries" refers to the people who are designated to receive assets or inherit property after someone passes away.
Full definition
Modern estate planners have the property held in trust by a trustee with an equitable
life estate beneficiary and a trust instrument that is more clear about who is responsible for what.
Charitable lead trusts provide that income may be paid to a charity at an amount to be based upon a specified formula for a defined term, with the remaining assets to pass to
estate beneficiaries free of estate taxes.
Represented a trust and
estate beneficiary in a lengthy trial asserting undue influence and related claims against the defendant.
However, the judge (a clear exception to the rule that legal minds can't do math) pointed out that «this ignores the fact that, in their personal capacity
as estate beneficiaries, Howard and Jeanette would be entitled in due course to a portion of any funds returned by them to the estate, whereas a charge for the same amount against their inheritance would deprive them unfairly of that benefit.»
So you would make
your estate the beneficiary of the other 10 % and parcel it out how you wish.
Estate beneficiaries can take an active role by questioning executors.
These debts will, however, be a debt of your father's estate and will be paid before any funds are transferred to
the estate beneficiaries via the will.
At any time,
an estate beneficiary can request the trustee to complete a passing of accounts.
A trustee may be asked by
an estate beneficiary at any time to have their accounting reviewed by the court for approval in a «passing of accounts.»
Estate assets, plus any additional funds collected into the estate during the course of the administration (for example, judgments debts collected after the deceased died), must be used to pay the estate creditors before there can be any distribution to
the estate beneficiaries.
An estate beneficiary brought an action alleging breach of trust, breach of fiduciary duty, and negligence (along with other torts) against multiple parties including the estate trustee, financial advisors and a LawPRO insured lawyer who had been retained by the estate trustee (2016 ONSC 1496; 2016 ONSC 3532 (Costs)-RRB-.
So you would make
your estate the beneficiary of the other 10 % and parcel it out how you wish.
(If you makeyourself or
your estate the beneficiary, you would lose the lastadvantage, as it would become part of the estate)..