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Income Beneficiary
An individual or entity entitled to receive income generated from a trust, estate, or other financial instrument.
Trust
A legal arrangement where one party holds property on behalf of another party, often used for managing assets, estate planning, and in charitable giving.
Personal Representative
An individual appointed to manage the estate of a deceased person during probate, sometimes known as an executor.
Testator
An individual who has made a will or given a testament, especially as it pertains to the disposition of their property after death.
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