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Term Definition Irrevocable Beneficiary Status - a status conferred by irreversible declaration affixing that a person named as a beneficiary of a contract, plan, or shall not be replaced by another.
Application in Divorce In a divorce, this status may be important in the determination of separate versus marital property.

Certain trusts are said to be irrevocable and cannot be revoked after their creation.

See Beneficiary.