Remainder Man

(redirected from Remainder Persons)

Remainder Man

The person or organization that receives what remains of a trust at its dissolution. That is, once all obligations to the beneficiary have been satisfied and all expenses have been paid, the remainder man receives the rest of the assets in the trust. The remainder man only receives these assets at the end of the trust's life; it may or may not be the same person as the trustor.
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The QTIP would then continue or distribute the proceeds for the benefit of or to the remainder persons of the QTIP.
Using the QTIP approach will be successful if there is a continuation of the business, in particular by children who are remainder persons under the QTIP trust.