Can Their Be Multiple Beneficiaries Of The Same Trust?
HTML clipboard Yes. A Trust can have one or more Beneficiaries at the same time, and can have successive, or remainder, Beneficiaries. For example, Dad creates a Trust during his lifetime to own a life insurance policy. After Dad dies, the Trustee receives the life insurance proceeds to hold in the Trust for the benefit of Mom for her lifetime. Mom receives the income from the Trust. Mom and the children may receive principal from the Trust for their support. After Mom dies, the Trust terminates and the remaining assets are distributed to the children.
