Mr.Rolleck places his estate in a trust while he is alive and he names a local bank as the trustee to administer the trust and invest its assets.The trust designates his wife as the income beneficiary of his estate and stipulates that after his wife's death, their children James and Joyce will receive the trust.James and Joyce are ________ in this scenario.

Question

Quizplus · Accepted Answer

James and Joyce are remainder beneficiaries, as they are the ones who will receive the trust after the income beneficiary (Mr. Rolleck's wife) passes away.

MrRolleck Places His Estate in a Trust While He Is