A life beneficiary is someone who is named in a will or a trust to receive the benefits or rights to use property of the deceased for the length of the named beneficiary's life. At the end of the beneficiary's life the property or assets are then transferred to the person or persons named in the original testator's will. This is most often seen in AB Trusts where one spouse names the other spouse as the life beneficiary to the trust. This allows the spouse the right to keep the home, property and other assets placed in the trust and use them for as long as they are living. Upon that spouse's death the assets are distributed to the beneficiaries named in the AB Trust, typically children if there are any.