Glossary B-words (AAM)

____________________________________________________________

Beneficiary - Any individual or individuals, designated in a trust instrument as benefiting in some way from the trust.

Burial contract - A written agreement made between an individual and a business engaged in providing funeral services in which a portion of the individual's money has been set aside to pay for funeral expenses or burial.

Burial fund - A burial contract, burial trust, burial arrangement, or any other separately identifiable fund that has been clearly designated for burial expenses and is accessible.