Remainder Man

(redirected from Remainderpersons)

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.
Mentioned in ?
References in periodicals archive ?
The trustees had only those powers that the trust instrument expressly granted, which were typically few, since the trustees' job was simply to hold and then to convey to the remainderpersons.
These remainderpersons had during the settlor's lifetime precisely that bare expectancy that characterizes the interest of a devisee under the will of a living testator.
The terms provide for a successor trustee to be appointed at the settlor's death, to hold and manage the property for the benefit of the remainderpersons.
The primary disadvantage of using a QPRT is that the trust's remainderpersons do not get a step-up in basis for the home when the term interest holders (e.
From an income tax standpoint, the QPRT loses some of its attractiveness if the remainderpersons intend to sell the home once they take possession (assuming the transferor survives until his term interest expires).