Remainder
Remainder means:
the part of an estate or trust that is left upon the termination of the immediately preceding estate (often a life estate or estate for a term of years) or trust and that does not amount to a reversion to the original grantor or his or her heirs.
Example of Remainder:
Learn more about tax examples, explanations and calculations here.
At the death of her husband, Polly Rowan inherits a life estate in their home. The remainder is a devise to their son, Paul Rowan. When Polly dies, Paul will gain title to the house. Paul is the remainderperson.
See Inheritance Tax and Inheritance Tax.
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