Definition from Nolo’s Plain-English Law Dictionary
1) An alternate beneficiary named in a will, trust, or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:13 pm