Charitable Trusts

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Charitable Trusts

What does it mean when you are
designated a remainderman in a trust who
can only access trust funds if current
beneficiary passes away with no living
issue.

Asked on May 23, 2019 under Estate Planning, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

For a definitive answer, you have to bring the trust documents to an attorney to review with you, since the trust will be governed or controlled by its exact terms and language. We can only go by what you have written, which may not be the precise, and hence controlling, language.
That said, as a general matter, what you have written about would mean what it sounds like: IF the beneficiary passes away with no descendents (i.e. no children, grandchildren, etc.), THEN you get the funds--but only if that happens.


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