What is a beneficiary?

Within the context of a will, a beneficiary is anyone identified by the will as being entitled to receive some of the deceased’s property (i.e., they’re an heir). Within the context of a trust, a beneficiary is anyone who is granted some or all of the equitable title in the trust property, meaning the person is entitled to use and enjoy the benefits of the property but lacks any control of the property (the control is associated with the property’s legal title, which is held by the trustee).