Common use of Final Remainder Beneficiaries Clause in Contracts

Final Remainder Beneficiaries. After all payments have been made from the deceased Beneficiary’s IBA as provided in paragraph 7.a. of this Agreement and Article Six of the Trust, all remaining assets shall be distributed to the Final Remainder Beneficiaries as provided below. If a Final Remainder Beneficiary is deceased at the time of distribution, the funds that would have been distributed to that Final Remainder Beneficiary will instead be distributed to the named contingent beneficiary. If no contingent beneficiary is named, the distribution shall be divided equally among the remaining beneficiaries named in paragraph 7.b., if any. If no other beneficiaries are then living, all remaining assets shall be retained by the Trust. If the Trustee is required to locate Final Remainder Beneficiaries, Grantor agrees that the Trustee may recover its reasonable costs and expenses associated with locating Final Remainder Beneficiaries. If the Trustee is unable to locate any Final Remainder Beneficiary within a reasonable time and after diligent search, he or she shall be deemed to have predeceased the Grantor and the remaining amount shall instead be distributed to the named contingent beneficiary. If no contingent beneficiary is named, the distribution shall be divided equally among the remaining beneficiaries named in paragraph 7.b., if any. If no other beneficiaries are then living, all remaining assets shall be retained by the Trust A Final Beneficiary or Beneficiaries should seek advice about the tax, and any applicable Government Assistance program ramifications of any particular distribution before a distribution is made from the amounts retained in the Trust Beneficiary’s IBA. The Final Remainder Beneficiaries shall be: 🞎 Not Applicable – 100% Retention by Trust was selected above. 🞎 Named Individuals as follows: (Note: The total of all distribution percentages must equal %100) Distribution Percentage: % Name: Address:

Final Remainder Beneficiaries. After all payments have been made from the administration of the deceased Beneficiary’s IBA as provided in paragraph 7.a. of this Agreement and Article Six 6, Section 6.2 of the Master Trust, all remaining including the satisfaction of Medicaid payback obligations as provided therein, any assets that have not been retained as surplus Trust property as provided in this paragraph 8 shall be distributed to the Final Remainder Beneficiaries as provided below.  If an Estate is named as a Final Remainder Beneficiary and has not been opened within twelve months, then it will be assumed that no Estate will be in effect and the claim will lapse.  If a Final Remainder Beneficiary is deceased at the time of distribution, the funds that would have been distributed to that Final Remainder Beneficiary will instead be distributed to the his or her contingent beneficiary named contingent beneficiarybelow. If no a contingent beneficiary is not named, the deceased beneficiary’s share shall be distributed pro rata among the remaining named beneficiaries. If all named beneficiaries are deceased, the distribution shall be divided equally among the remaining beneficiaries named in paragraph 7.b., if any. If no other beneficiaries are then living, all remaining assets shall be retained by the TrustTrust as surplus trust property.  If the Trustee is required to locate Final Remainder Beneficiaries, Grantor agrees that the Trustee may recover its reasonable costs and expenses associated with locating Final Remainder Beneficiaries. If the Trustee is unable to locate any a Final Remainder Beneficiary within a reasonable time and after diligent search, he or she shall be deemed to have predeceased the Grantor and the remaining amount shall funds that would have been distributed to the Final Remainder Beneficiary will instead be distributed to the his or her named contingent beneficiary. If no a contingent beneficiary is not named, the distribution deceased beneficiary’s share shall be divided equally distributed pro rata among the remaining beneficiaries named in paragraph 7.b., if anybeneficiaries. If no other all named beneficiaries are then livingdeceased, all remaining assets the distribution shall be retained by the Trust A as surplus trust property.  All Final Beneficiary or Beneficiaries should seek advice about the tax, tax and any applicable Government Assistance program ramifications of any particular distribution before a distribution is made from the amounts retained in the Trust Beneficiary’s IBA. The Final Remainder Beneficiaries shall be: 🞎 Not Applicable – 100% Retention by Trust was selected above. � � Named Individuals as follows: (Note: The total of all distribution percentages must equa100l %100) Distribution Percentage: Final Remainder Beneficiary #1 % NameDate of Birth: : Addres: Home Phone: Cell Phone: E-Mail: If above named beneficiary is deceased, distribute to Contingent Beneficiary, if any: Contingent Beneficiary Name: Date of Birth: Address: Home Phone: Cell Phone: E-Mail: Special instructions, if any (subject to Trustee approval): Distribution Percentage: % Final Remainder Beneficiary #2 Name: Date of Birth: Address: Home Phone: Cell Phone: E-Mail: If above named beneficiary is deceased, distribute to Contingent Beneficiary, if any: Contingent Beneficiary Name: Date of Birth: Address: Home Phone: Cell Phone: E-Mail: Special instructions, if any (subject to Trustee approval): Distribution Percentage: % Final Remainder Beneficiary #3 Name: Date of Birth: Address: Home Phone: Cell Phone: E-Mail: If above named beneficiary is deceased, distribute to Contingent Beneficiary, if any: Contingent Beneficiary Name: Date of Birth: Address: Home Phone: Cell Phone: E-Mail: Special instructions, if any (subject to Trustee approval): Distribution Percentage: % Final Remainder Beneficiary #4 Name: Date of Birth: Address: Home Phone: Cell Phone: E-Mail: If above named beneficiary is deceased, distribute to Contingent Beneficiary, if any: Contingent Beneficiary Name: Date of Birth: Address: Home Phone: Cell Phone: E-Mail: Special instructions, if any (subject to Trustee approval): (If more space is needed, please use the reverse side)s:

Final Remainder Beneficiaries. After all payments have been made from the deceased Beneficiary’s IBA as provided in paragraph 7.a. of this Agreement and Article Six of the Trust, all remaining assets shall be distributed to the Final Remainder Beneficiaries as provided below. If a Final Remainder Beneficiary is deceased at the time of distribution, the funds that would have been distributed to that Final Remainder Beneficiary will instead be distributed to the named contingent beneficiary. If no contingent beneficiary is named, the distribution shall be divided equally among the remaining beneficiaries named in paragraph 7.b., if any. If no other beneficiaries are then living, all remaining assets shall be retained by the Trust. If the Trustee is required to locate Final Remainder Beneficiaries, Grantor agrees that the Trustee may recover its reasonable costs and expenses associated with locating Final Remainder Beneficiaries. If the Trustee is unable to locate any Final Remainder Beneficiary within a reasonable time and after diligent search, he or she shall be deemed to have predeceased the Grantor and the remaining amount shall instead be distributed to the named contingent beneficiary. If no contingent beneficiary is named, the distribution shall be divided equally among the remaining beneficiaries named in paragraph 7.b., if any. If no other beneficiaries are then living, all remaining assets shall be retained by the Trust A Final Beneficiary or Beneficiaries should seek advice about the tax, and any applicable Government Assistance program ramifications of any particular distribution before a distribution is made from the amounts retained in the Trust Beneficiary’s IBA. The Final Remainder Beneficiaries shall be: 🞎 Not Applicable – 100% Retention by Trust was selected above. � � Named Individuals as follows: (Note: The total of all distribution percentages must equal %100) Distribution Percentage: % Name: Address: