Nevada Revised Statutes 132.050 – ‘Beneficiary’ defined
‘Beneficiary,’ as it relates to:
Terms Used In Nevada Revised Statutes 132.050
- 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
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Donee: The recipient of a gift.
- Fiduciary: A trustee, executor, or administrator.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
1. A trust, includes a person who has a present or future interest, vested or contingent, and the owner of an interest by assignment or other transfer;
2. A charitable trust, includes any person entitled to enforce the trust;
3. An instrument designating a beneficiary, includes a beneficiary of any nonprobate transfer; and
4. A beneficiary designated in a governing instrument, includes a grantee of a deed, a devisee, a beneficiary of a trust, a beneficiary under a designation, a donee, an appointee or a taker in default under a power of appointment, or a person in whose favor a power of attorney or a power held in any individual, fiduciary or representative capacity is exercised, but does not include a person who receives less than $100 under a will.