In real estate and other facets of financial planning, a 'Beneficiary' is a person or entity designated to receive benefits or assets, such as proceeds from a life insurance policy, trusts, or estates.
'Per Stirpes' is a legal method of distributing an estate where the descendants of a deceased legatee inherit their ancestor's share.
Schedule K-1 is a tax document used to report income, deductions, and credits from partnerships, S corporations, estates, and trusts to individuals, partners, or shareholders. It also contains information on these entities' distributive share of items like income, losses, and dividends.
Shares of Beneficial Interest represent a fractional ownership interest in the assets of a trust or other fiduciary arrangement, entitling the shareholder to a proportionate share of the earnings and profits.
