How do I redistribute the balance of Trust Fund given to deceased Remainder Beneficiaries to someone else? (i.e. to a substitute Remainder Beneficiary)
You can also choose to redistribute the balance of Trust Fund to another person (i.e. substitute Remainder Beneficiary) only if your chosen Remainder Beneficiary is dead.
At the bottom, toggle on " Additional Trust Instructions", and key in the following (please fill in the relevant details accordingly):
This paragraph will take precedence over any inconsistent or conflicting instructions in this Testamentary Trust. In the event that the Remainder Beneficiary, my {Relationship}, {Name}, {Identification Number/details}, is not alive, the share of the balance of Trust Fund which he/she would otherwise be entitled to receive under the section on "Balance of the Trust Fund" shall be redistributed to my {Relationship}, {Name}, {Identification Number/details}.
If you want to redistribute to multiple people, you can use the following clause instead:
This paragraph will take precedence over any inconsistent or conflicting instructions in this Testamentary Trust. In the event that the Remainder Beneficiary, my {Relationship}, {Name}, {Identification Number/details}, is not alive, the share of the balance of Trust Fund which he/she would otherwise be entitled to receive under the section on "Balance of the Trust Fund" shall be redistributed in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details}; and
- XX% to my {Relationship}, {Name}, {Identification Number/details}.
Example:
