An income beneficiary is
A) a stockbroker who remained working on Wall Street after the 1987 crash.
B) an employee of a trustee.
C) one who receives interest and dividend income from a trust during their lifetime.
D) one who receives the principal of a trust when it is dissolved.
E) None of the options are correct.

Question

Quizplus · Accepted Answer

An income beneficiary is someone who receives the income generated from a trust, such as interest and dividends, during their lifetime. This is distinct from the beneficiary who may receive the principal or remaining assets of the trust upon its termination or at a specified time.

An Income Beneficiary Is