Is a Devisee a Beneficiary?

Is a Devisee a Beneficiary?

Devisee vs beneficiary
Beneficiary is a broad term used to describe someone who is named to receive an asset, whether the asset is passed through a will or other type of account. Devisees are beneficiaries of a will, but not all beneficiaries are devisees.

Is a Devisee the same as a beneficiary?

Devisees are the people to whom you leave your property in a will. ... Beneficiaries are people who receive property through your trust. Distributions may come before or after you die, per the terms of your trust. Trusts provide flexibility regarding distributions.

Who is the Devisee in a will?

Historically speaking, a “devisee" is someone who receives real property (as opposed to personal property) from an estate. In modern times, though, a devisee usually refers to anyone who receives property by being named in a decedent's will whether they are related or not—like a friend, as described above.

Robert Thorne
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Robert Thorne

Robert Thorne covers electric vehicle innovations, autonomous driving systems, global mobility trends, and automotive engineering developments.