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Remainder Man
(redirected from Remainder men)

   Also found in: Dictionary/thesaurus, Legal, Wikipedia 0.01 sec.
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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WHEN AND HOW TO USE GRITS, GRANTS AND GRUNTS The most-recognized victim of the new valuation rules is the GRIT, in which an individual places cash or other assets in trust for remainder men, such as children, but retains the income from trust assets for a specified period of time, such as 10 years.
 
 
 
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