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Trust Glossary

Life Tenant - Individual who holds, or may in the future hold, a life estate in property. If the interest is in trust, the individual is known as a Life Beneficiary. For example, if a husband at death left his estate in trust for his wife for her life and upon her death to his children, the husband would be the grantor. His wife would hold a life interest and be the life beneficiary, and his children would hold a remainder interest and be the remainder beneficiaries.

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The content in this glossary is general in nature and is intended for informational purposes only. It is not intended to provide specific advice or recommendations for any individual or organization, because the facts and circumstances surrounding each situation differ. Please consult your attorney, tax advisor or other professional advisor for advice on your particular situation.

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