Card (1988) argues that in bestowing a favor upon a beneficiary, we should see the benefactor as expressing her faith in the beneficiary as someone worthy of benevolence, and as someone who can be trusted to return a favor in the future.
A secret trust must be contrasted with merely placing a moral obligation upon the beneficiary to deal with the legacy in particular way (as in Re Snowden ) and must impose a binding obligation, without discretion to act within its terms or not.
"They know the devastating effects these rules would have on local communities, upon hospitals and upon vulnerable beneficiaries," Mr. Dingell said.
Another example is when one partner may imply that he or she will include the other as a beneficiary upon death.
Prepare to name a beneficiary upon death.
Unlike those assets specified in your will, any assets included in your trust will transfer to the named beneficiary upon your death without passing through probate.
Under a POD or TOD arrangement, the property is automatically passed to the beneficiary upon the death of the original owner.
When a testamentary gift is conditioned upon an act of the beneficiary that in good morals should not be so conditioned, as, for instance, a gift conditioned upon the beneficiary's obtaining a divorce, the gift is either invalid or valid without conditions.
Upon the death of the beneficiary who has a disability, there is a repayment to the state Medicaid program, which most people would like to avoid.
Upon the death of the beneficiary (and subject to some restrictions suggested by IRS Revenue Rulings and Private Letter Rulings on this subject), funds left in the CRT will pass to the charity.
