What is ‘Absolute Beneficiary’
A designation of a beneficiary that can not be changed without the written consent of that beneficiary. Also referred to as an “irrevocable beneficiary”, absolute beneficiaries can also refer to a trust, an employee benefit plan such as a pension, or any other instrument or contract with a beneficiary clause.
Explaining ‘Absolute Beneficiary’
The naming of absolute beneficiaries is common in divorce settlements or liability cases where part of the settlement is the naming of a given person as a beneficiary. Any designations of absolute beneficiaries should be made very carefully and with professional consultation.
Further Reading
- Does access to finance alleviate poverty? A case study of SGSY beneficiaries in Kashmir Valley – www.emerald.com [PDF]
- Change in the quality of care delivered to Medicare beneficiaries, 1998-1999 to 2000-2001 – jamanetwork.com [PDF]
- Spain's Balancing Act: Net Contributor or Net Beneficiary of the EU Budget – papers.ssrn.com [PDF]
- Land reform beneficiaries: present situation. – www.cabdirect.org [PDF]
- Disclosure to discretionary beneficiaries—the latest on Schmidt: Do beneficiaries have absolute rights to trust accounts? What about company documents? Schmidt V … – academic.oup.com [PDF]
- The absorption capacity of European Union funds for social inclusion. An analysis into the PHARE 2004-2005 grants beneficiaries – www.ceeol.com [PDF]
