Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Beneficiary definition

What does Beneficiary mean? In legal practice, a beneficiary is the person or entity for whose benefit property is held or administered, most commonly under a trust or will. In trust law, the trustee holds legal title while the beneficiary holds the beneficial (equitable) interest and may enforce the trust. The term is largely descriptive rather than uniformly defined by statute, though particular Acts, scheme rules and trust instruments may define beneficiary classes. Key features include: fixed or discretionary entitlements; present, future, contingent or defeasible interests; and eligibility of individuals, charities and other bodies. Beneficiaries may, subject to the trust terms and capacity,...

Distributing trust assets on termination: correct beneficiaries, trustee liability and protections (England and Wales)

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Practice notes

Duty to distribute to the correct beneficiaries

When a trust concludes, trustees are obliged to transfer the trust property to the proper beneficiaries. Misdistribution exposes trustees to potential liability for breach of trust; however, they may ask the court to grant relief where their conduct was honest and reasonable...

Relief for honest and reasonable conduct

If the court considers that a trustee is, or could be, personally liable for a breach of trust, but finds they acted honestly and reasonably, and should fairly be excused both for the breach and for not seeking the court’s guidance, it may relieve them from personal liability, in full or in part. ‘Honestly’ signifies acting in good faith, while ‘reasonably’ reflects prudent behaviour. This relief is discretionary, and in exercising that discretion the court will weigh the interests of both trustees and beneficiaries when deciding whether, and to what extent, the breach should be excused...

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Web page updated on 22/05/2026

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