Terms Used In Texas Estates Code 153.002

• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}