Presumptive remainder beneficiary definition

Presumptive remainder beneficiary means a qualified beneficiary other than a current beneficiary.

Presumptive remainder beneficiary means a qualified

Presumptive remainder beneficiary means a qualified beneficiary other than a current beneficiary.[PL 2021, c. 235, §1 (NEW).]

Examples of Presumptive remainder beneficiary in a sentence

• Presumptive remainder beneficiary" means a beneficiary of a trust, as of the date of determination and assuming nonexercise of all powers of appointment, who either: (i) would be eligible to receive a distribution of income or principal if the trust terminated on that date, or (ii) would be eligible to receive a distribution of income or principal if the interests of all beneficiaries currently eligible to receive income or principal from the trust ended on that date without causing the trust to terminate.

• The term does not include a right held by a beneficiary if any person has discretion to distribute property subject to the right to any person other than the beneficiary or the beneficiary's estate.(2) Presumptive remainder beneficiary means a qualified beneficiary other than a current beneficiary.

More Definitions of Presumptive remainder beneficiary

Presumptive remainder beneficiary means a trust beneficiary who would be a distributee or permissible distributee of trust income or principal on the date the beneficiary’s interest is determined if:

Presumptive remainder beneficiary means a beneficiary of a trust, as of the date of determination and assuming nonexercise of all powers of appointment, who either (A) would be eligible to receive a distribution of income or principal if the trust terminated on that date, or (B) would be eligible to receive a distribution of income or principal if the interests of all beneficiaries currently eligible to receive income or principal from the trust ended on that date without causing the trust to terminate.

Presumptive remainder beneficiary means a beneficiary of

Presumptive remainder beneficiary means a qualified beneficiary other than a current beneficiary. "Successor beneficiary" means a beneficiary that is not a qualified beneficiary on the date the

Presumptive remainder beneficiary. ' means as of any date, a beneficiary who, as of any date and but for the exercise of any power of appointment, would receive income or principal of the trust if the trust were to terminate as of that date (without regard to the exercise of any power of appointment) or, if the trust does not provide for its termination, a beneficiary who would receive or be eligible to receive distributions of income or principal of the trust if all of the beneficiaries currently receiving or eligible to receive distributions of income or principal were deceased.

Presumptive remainder beneficiary means a beneficiary of a trust, as of the date of determination and assuming nonexercise of all powers of appointment, who either:

Presumptive remainder beneficiary means a trust beneficiary who would be a distributee or permissible distributee of trust income or principal on the date the status of the trust beneficiaries is determined if (A) the interests of the current beneficiaries terminated on the date without causing the trust to terminate or (2) the trust terminated on the date.