Vested remainder


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Related to Vested remainder: Future interest, Contingent remainder
(Law) an estate settled, to remain to a determined person, after the particular estate is spent.
- Blackstone.

See also: Vested

References in periodicals archive ?
Although the IRS acquiesced in the Cristofani decision, it also issued an action on decision (AOD), which indicates it will continue to litigate in situations where the annual withdrawal power is granted to persons who do not have income or vested remainder interests in the trust other than the withdrawal power (AOD 1992-09).
The sale of the Vested Remainder Interestin a Life Estate for the property located at 313 East 18th Street in Gramercy Park for $900,000 cash.
On one hand, a court might take the position that, because the homestead statute provides a vested remainder in the adult children, the surviving spouse had only a life estate at the decedent's death and could not disclaim an interest greater than she had.
Gopman of Greenberg Traurig in Boca Raton co-authored "Ruling on Assignment of Vested Remainder Interest May Have Reached Wrong Conclusion," which was published in the September/October issue of Tax Management Estates, Gifts, and Trusts Journal.
94) Had the settlor been better advised, he or she would have given B this flexibility by means of a power of appointment, but failing that, " [t]he transmissible vested remainder rule of the common law is a substitute for a power of appointment overlooked by the settlor.
25111(h)(6) provides that if A holds "a vested remainder interest in property, subject to being divested only in the event he should fail to survive one or more individuals or the happening of some other event, an irrevocable assignment of all or any part of his interest would result in a transfer includible for Federal gift tax purposes.
Accordingly, Trust A conferred a vested remainder in the trust on one of the settlor's children and the remaining Crummey powerholders either had contingent interests or no interest at all.
The creation of a vested remainder does not necessarily mean the remainder will pass through probate at the remainderman's death.
those without a current income or vested remainder interest) will continue to raise a red flag for IRS challenge.
However, if a decedent is survived by a spouse and lineal descendants, the surviving spouse takes a life estate in the homestead with a vested remainder to the lineal descendants in being at the time of decedent's death.
Addressing the degree of interest in property necessary to be eligible for the annual exclusion, the court stated that Crummey did not require or imply that beneficiaries of a trust have a vested present interest or vested remainder interest in the trust corpus or income in order to qualify the gift for the annual exclusion.
The court rejected the notion that Crummey requires that the beneficiaries of a trust have a vested present interest or vested remainder interest in the trust corpus or income to qualify under Sec.