Beneficiary

The company, person(s), trust or estate named by the settler, grantor or creator to receive the benefits of a trust upon conditions which the grantor established by way of a trust deed. They may be named and identified in the Trust Instrument or described by reference to a class of beneficiaries, or in the case of discretionary trusts left to the Trustee's discretion. The beneficiary could be a charity, foundation and/or person(s) which or who are characterised by classes in terms of their order of entitlement or their hierarchy.