Spousal Remainder Trust

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Spousal remainder trust

A fixed-term trust from which income is distributed to the beneficiary (such as a child of the grantor) to take advantage of a lower tax bracket, and that at the end of the term passes to the grantor's spouse.

A term trust into which the grantor deposits assets that produce income. The income passes to the beneficiary for a certain number of years, after which the assets go to the grantor's spouse. The income from the assets are taxed at the beneficiary's marginal tax rate unless the beneficiary is under 14 years old, in which case it is taxed at the grantor's rate. See also: Q-TIP.

spousal remainder trust

An irrevocable trust that may be set up for any length of time in order to pass assets to a spouse. Between the time that the trust becomes effective and the time that the assets are passed, income earned by the trust is taxable to a named beneficiary at the beneficiary's tax rate.

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