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Beneficiary Designation

A beneficiary designation in case law refers to a legal directive, typically within a financial or estate planning instrument (e.g., a will, trust, insurance policy, or retirement account), that specifies an individual, entity, or group entitled to receive assets, benefits, or proceeds upon a triggering event, such as the death of the account holder or policyholder. It is an instruction that governs the distribution of assets, sometimes taking precedence over other estate documents, like a will, depending on the jurisdiction and context.

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