Mr. Cartledge 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 their children Brendan and Margaret will receive the assets of the trust after his wife's death. Brendan and Margaret are the ________ in this scenario.

Question

Quizplus · Accepted Answer

Brendan and Margaret are the remainder beneficiaries of the trust. This means that they are the beneficiaries who will receive the assets of the trust after the income beneficiary (Mr. Cartledge's wife) has passed away.

Mr Cartledge Places His Estate in a Trust While He