Terms Used In Louisiana Revised Statutes 9:1983

  • 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

If a beneficiary of a testamentary trust refuses his interest to the prejudice of his creditors’ rights, the creditors may accept in his stead to the extent that their rights have been prejudiced.