Beneficiary:
A person who has any present or future interest, in a trust, either vested or contingent.

Normally the original creators of a Trust are the first beneficiaries of a revocable trust. When the trust is drafted, the Creators will designate primary beneficiaries who will receive benefits of the Trust at some future date, and secondary or contingent beneficiaries who will receive remainder interests if a primary beneficiary predeceases.