spousal remainder trust

spousal remainder trust definition - business

spousal remainder trust

An irrevocable trust that may be set up for any length of time in order to pass assets to a spouse. Between the time that the trust becomes effective and the time that the assets are passed, income earned by the trust is taxable to a named beneficiary at the beneficiary's tax rate.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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