split interest trust
A term to know.
A trust that pays income to beneficiaries during a period of time (for live(s) or a term of years, or a combination of both), followed by a distribution of the remainder to other beneficiaries. Within the charitable context, this type of trust would have both charitable and non-charitable beneficiaries as income and/or remainder beneficiaries.
Synonyms:
split interest trust, split interest, split-interest
Synonyms list
(a comma-separated list)
split interest trust, split interest, split-interest