Remainder Beneficiary Sample Clauses
A Remainder Beneficiary clause designates the individual or entity that will receive the remaining assets of a trust or estate after all other specified distributions have been made. In practice, this clause comes into effect once primary beneficiaries have received their shares, and it ensures that any leftover property is distributed according to the grantor's wishes. Its core function is to provide clear instructions for the final disposition of assets, preventing ambiguity or disputes over what happens to any residual estate.
POPULAR SAMPLE Copied 1 times
Remainder Beneficiary. In the event of death, incapacity or resignation of all Gift Advisors and Successor Gift Advisors, the balance of the Fund shall be used as follows: OPTION 2 - Distributed to the following organizationsin the percentages shown below (must equal 100%): % to YouthBridge Community Foundation % to (Insert charity name here) % to (Insert charity name here) OPTION 4 - YouthBridge will create an endowed Designated Fund for the benefit of the following organization, subject to policies of YouthBridge. (Insert charity name here)
Remainder Beneficiary. The Individual’s Beneficiary may, after the Individual’s death, name a person, trust, estate or other entity to receive distributions of any balance remaining in the Individual’s IRA after the death of the Individual’s Beneficiary. Any person or entity so designated will, upon the death of the Individual’s Beneficiary, become the Individual’s Beneficiary for all purposes except for required minimum distributions. This additional designation may not extend the schedule of required minimum distributions established when the Individual attains age 70 1/2 or, if sooner, following the Individual’s death.
Remainder Beneficiary. The Confidential Trust will provide that on the death of a sole Beneficiary or the death of the last Beneficiary when the Beneficiaries are husband and wife, all of the assets of the Confidential Trust will go to the estate of the last Beneficiary who dies. If the Beneficiaries have a trust created for estate planning, the Trust Maker(s) can name the Beneficiary’s estate planning trust as the Beneficiary.