Remainderman

Remainderman

A remainderman is a person who inherits or is entitled to inherit property upon the termination of the estate of the former owner. Usually this occurs due to the death or termination of the former owner's life estate, but this can also occur due to a specific notation in a trust passing ownership from one person to another.

For example, if the owner of property makes a grant of that property "to John for life, and then to Jane," Jane is entitled to a future interest, called a remainder, and is termed a remainderman.

Under the required minimum distribution rules for retirement accounts, the remaindermen beneficiaries must be included in the list of beneficiaries provided to the IRA custodian or plan trustee, for purposes of the trust meeting the requirements to be considered ‘qualified’.

The synonyms remainderer, remainderperson, and remainor are found in many legal dictionaries, but despite any political correctness, the terms Remainderwoman and Remainderperson are not used in practice: females in the position of a remainderman are also termed remaindermen.

ee also

* Remainder (law)
* Future interest

External links

* [http://www.lectlaw.com/def2/q029.htm Legal Definition]
* [http://www.wachovia.com/helpcenter/page/0,,2356_2365%5E3%5Elist%5ER_733,00.html Definition from Wachovia Wealth Management]
* [http://www.investordictionary.com/definition/remainderman.aspx Investor Dictionary.com Definition]


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Look at other dictionaries:

  • remainderman — re·main·der·man /ri mān dər mən/ n pl men / ˌmen, mən/: one who has received or is to or may receive a remainder Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. remainderman …   Law dictionary

  • remainderman — One who is entitled to the remainder of the estate after a particular estate carved out of it has expired. One who becomes entitled to estate after intervention of precedent estate or on termination by lapse of time of rights of precedent estate… …   Black's law dictionary

  • remainderman — /ri mayn deuhr meuhn/, n., pl. remaindermen. Law. a person who owns a remainder. [1735 45; REMAINDER + MAN1] * * * …   Universalium

  • remainderman — noun a) A person entitled to receive a remainder interest in any property. b) A person entitled to the assets of a trust at the end of some specified period or after some event. For instance a mans will might put his assets into a trust with the… …   Wiktionary

  • Remainderman — One who receives the principal of a trust when it is dissolved. The New York Times Financial Glossary …   Financial and business terms

  • remainderman — One who receives the principal of a trust when it is dissolved. Bloomberg Financial Dictionary …   Financial and business terms

  • remainderman — re main·der·man || rɪ meɪndÉ™(r)mæn n. one who owns a future interest in an estate …   English contemporary dictionary

  • remainderman — The recipient of the remainder (residue) of an estate after the expenses, specific legacies, and inheritance tax have been paid …   Accounting dictionary

  • remainderman — re·main·der·man …   English syllables

  • remainderman — /rəˈmeɪndəmæn/ (say ruh maynduhman) noun (plural remaindermen) Law a person entitled to an estate in expectancy, that is, by inheritance after the owner s death …  

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