Maryland Code, COURTS AND JUDICIAL PROCEEDINGS 10-802
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Terms Used In Maryland Code, COURTS AND JUDICIAL PROCEEDINGS 10-802
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
Where two or more beneficiaries are designated to take successively because of survivorship under another person‘s disposition of property and there is not sufficient evidence that these beneficiaries have died other than simultaneously, the property disposed of shall be divided into as many equal portions as there are successive beneficiaries, and these portions shall be distributed to those who would have taken in the event that each designated beneficiary had survived.