How do I redistribute the balance of Trust Fund given to deceased Remainder Beneficiaries to someone else? (i.e. to a substitute Remainder Beneficiary)
By default, in the event that ANY Remainder Beneficiary is not alive, the share of the balance of Trust Fund which he/she would otherwise be entitled to receive shall STILL be given to him/her contributing to his/her estate.
You can also choose to redistribute proportionately (as per the percentage in the Balance of Trust Fund section) amongst surviving Remainder Beneficiaries in the same section (instead of still be given to him/her contributing to his/her estate).
To do so, at the bottom, toggle on " Additional Trust Instructions", and key in the instructions accordingly;
This paragraph will take precedence over any inconsistent or conflicting instructions in this Testamentary Trust.
In the event that any Remainder Beneficiary(s) is not alive, the share of the balance of Trust Fund which he/she would otherwise be entitled to receive shall be redistributed to the other surviving Remainder Beneficiary(s) according to the proportion under Balance of the Trust Fund (instead of still be given to him/her contributing to his/her estate).
You can also choose to redistribute the Balance of Trust Fund in various fashions, be it applying to a specific Remainder Beneficiary or to a specific group of Remainder Beneficaries etc.
Similarly toggle on " Additional Trust Instructions", and key in the instructions based on the configuration required;
ONE Remainder Beneficiary to Substitute Remainder Beneficiary(s)
If you want to redistribute to another substitute Remainder Beneficiary if a particular Remainder Beneficiary is dead, you can use the following clause:
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 substitute Remainder Beneficiaries if a particular Remainder Beneficiary is dead, you can use the following clause:
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}.
Multiple Remainder Beneficiaries to Substitute Remainder Beneficiary(s)
If you want to redistribute to a substitute Remainder Beneficiary if multiple Remainder Beneficiaries are dead, 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 ALL of the following Remainder Beneficiaries:
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details};
are not alive, the share of the balance of Trust Fund which they 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 substitute Remainder Beneficiaries if multiple Remainder Beneficiaries are dead, 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 ALL of the following Remainder Beneficiaries:
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details};
are not alive, the share of the balance of Trust Fund which they 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}.
Redistribute equally amongst surviving Remainder Beneficiaries within a group
If you want to redistribute EQUALLY amongst the surviving Remainder Beneficiaries within a group if any of the Remainder Beneficiaries in the said group are dead, 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 ANY of the following Remainder Beneficiary(s):
- my {Relationship}, {Name 1}, {Identification Number/details};
- my {Relationship}, {Name 2}, {Identification Number/details};
- my {Relationship}, {Name 3}, {Identification Number/details};
is not alive, the share of the balance of Trust Fund which he/she/they would otherwise be entitled to receive under the section on "Balance of the Trust Fund" shall be redistributed EQUALLY to the SURVIVING Remainder Beneficiary(s) stated in this sentence [i.e. Name 1; Name 2; Name 3].