Beneficiary vs. Legatee: What's the Difference?
Edited by Huma Saeed || By Sara Rehman || Updated on November 11, 2023
A beneficiary is a person who receives benefits or advantages from something, while a legatee specifically refers to someone who inherits property through a will.
Key Differences
Beneficiary is a broad term for anyone who gains an advantage, benefit, or profit from something, not necessarily through inheritance. A legatee, however, is specifically an individual who receives personal property through a will.
Sara Rehman
Nov 11, 2023
Beneficiaries can receive benefits from various sources, including insurance policies, trusts, or retirement plans. While, legatees are exclusively associated with the context of wills and the distribution of personal property after someone's death.
Sara Rehman
Nov 11, 2023
The term beneficiary is not limited to legal contexts and can apply in many situations involving benefits. In contrast, a legatee is a legal term specifically used in the context of estate planning and wills.
Huma Saeed
Nov 11, 2023
A beneficiary's benefits are not restricted to tangible assets and can include a range of advantages. A legatee's inheritance is usually limited to personal property, distinct from real estate or land inheritance.
Aimie Carlson
Nov 11, 2023
Beneficiaries are often named in contracts or legal documents where benefits are designated. Legatees are named in a will, and their inheritance is subject to the conditions set forth in that document.
Sara Rehman
Nov 11, 2023
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Comparison Chart
Definition
Someone who receives benefits or advantages
Someone who inherits personal property through a will
Sara Rehman
Nov 11, 2023
Legal Limitation
Broader usage, not limited to inheritance
Specifically linked to inheritance in wills
Huma Saeed
Nov 11, 2023
Type of Benefits
Varied, including monetary, services, or rights
Personal property inheritance
Aimie Carlson
Nov 11, 2023
Documentation
Named in contracts, policies, or legal documents
Named specifically in a will
Aimie Carlson
Nov 11, 2023
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Beneficiary and Legatee Definitions
Beneficiary
A recipient of rights or privileges.
Employees are beneficiaries of the company's health insurance plan.
Janet White
Nov 11, 2023
Legatee
A recipient of bequeathed items excluding real estate.
As a legatee, she inherited her grandmother's jewelry.
Harlon Moss
Nov 11, 2023
Beneficiary
A person who gains benefits from something.
She is the primary beneficiary of her father's life insurance policy.
Aimie Carlson
Nov 11, 2023
Legatee
Someone named in a will to receive personal belongings.
The family friend was surprisingly included as a legatee.
Huma Saeed
Nov 11, 2023
Beneficiary
One who receives advantages from a trust or contract.
As a beneficiary, he received monthly payments from the trust.
Harlon Moss
Nov 11, 2023
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Legatee
A person who inherits personal property through a will.
The antique clock was left to her as a legatee.
Aimie Carlson
Nov 11, 2023
Beneficiary
An individual entitled to profits or proceeds.
The charity was named as a beneficiary in her will.
Aimie Carlson
Nov 11, 2023
Legatee
An individual designated to receive specific assets in a will.
He was named legatee of his uncle's book collection.
Harlon Moss
Nov 11, 2023
Beneficiary
Someone who is favored by an action or policy.
Students are the beneficiaries of the new scholarship fund.
Huma Saeed
Nov 11, 2023
Legatee
A beneficiary of personal assets as dictated by a will.
The legatee received various art pieces as per the will.
Sara Rehman
Nov 11, 2023
Beneficiary
One that receives a benefit
I am the beneficiary of your generosity.
Sara Rehman
Apr 26, 2023
Beneficiary
The recipient of funds, property, or other benefits, as from an insurance policy or trust.
Sara Rehman
Apr 26, 2023
FAQs
What is a legatee?
A legatee is a person who inherits personal property under a will.
Huma Saeed
Nov 11, 2023
Can a legatee be an organization?
Yes, a legatee can be an organization, especially if personal property is bequeathed to a charity or institution in a will.
Harlon Moss
Nov 11, 2023
Can a beneficiary be a legatee?
Yes, a beneficiary can be a legatee if they are receiving personal property through a will.
Sara Rehman
Nov 11, 2023
What is a beneficiary?
A beneficiary is someone who receives benefits or advantages from something, especially a trust, will, or life insurance policy.
Sara Rehman
Nov 11, 2023
Are beneficiaries always related to the will-maker?
Not necessarily. Beneficiaries can be relatives, friends, organizations, or charities, not just family members.
Janet White
Nov 11, 2023
Can a legatee be a minor?
Yes, a legatee can be a minor, but legal mechanisms might be required to manage the property until they come of age.
Sara Rehman
Nov 11, 2023
Can there be multiple beneficiaries or legatees?
Yes, both wills and other legal documents can name multiple beneficiaries or legatees.
Harlon Moss
Nov 11, 2023
How is a legatee chosen?
A legatee is chosen by the individual who drafts the will.
Harlon Moss
Nov 11, 2023
What happens if a beneficiary or legatee dies?
If a beneficiary or legatee dies, their portion of the inheritance can either pass to their heirs or be redistributed according to the document's terms.
Sara Rehman
Nov 11, 2023
How is a beneficiary different from a heir?
A beneficiary is specifically named in a document like a will or insurance policy, while an heir is entitled to inheritance by law, typically due to family relation.
Harlon Moss
Nov 11, 2023
How is a beneficiary chosen?
A beneficiary is chosen by the person who creates the will, trust, or insurance policy.
Aimie Carlson
Nov 11, 2023
Is a beneficiary always part of a will?
No, beneficiaries can also be part of trusts, insurance policies, or any other arrangements where benefits are designated.
Aimie Carlson
Nov 11, 2023
Can a legatee refuse an inheritance?
Yes, a legatee can refuse or disclaim an inheritance.
Sara Rehman
Nov 11, 2023
Are beneficiaries and legatees public information?
In the case of wills, this information becomes public once the will is probated. For other documents like trusts or insurance policies, it may remain private.
Janet White
Nov 11, 2023
Can a beneficiary or legatee be changed?
Yes, the person who creates the will, trust, or policy can usually change beneficiaries or legatees.
Sara Rehman
Nov 11, 2023
What rights do legatees have?
Legatees have the right to receive the personal property bequeathed to them in the will.
Harlon Moss
Nov 11, 2023
What rights do beneficiaries have?
Beneficiaries have the right to receive what was designated to them and can sometimes request information about the estate or trust.
Harlon Moss
Nov 11, 2023
Can a person be both a beneficiary and a legatee in the same will?
Yes, a person can be named both a beneficiary (of general assets) and a legatee (of specific personal property) in the same will.
Aimie Carlson
Nov 11, 2023
Can a beneficiary also be an executor?
Yes, a beneficiary can also be an executor of a will.
Sara Rehman
Nov 11, 2023
How are disputes among beneficiaries or legatees resolved?
Disputes are typically resolved through legal processes, potentially involving probate court.
Janet White
Nov 11, 2023
About Author
Written by
Sara RehmanSara Rehman is a seasoned writer and editor with extensive experience at Difference Wiki. Holding a Master's degree in Information Technology, she combines her academic prowess with her passion for writing to deliver insightful and well-researched content.
Edited by
Huma SaeedHuma is a renowned researcher acclaimed for her innovative work in Difference Wiki. Her dedication has led to key breakthroughs, establishing her prominence in academia. Her contributions continually inspire and guide her field.
