residuary trust


The second trust portion of a two trust arrangement, referred to as an A-B trust that receives the portion of a decedent's assets that exceeds the applicable exclusion amount and is held for the benefit of the surviving spouse. Assets transferred to a residuary trust, which is created upon the death of the trustor, are not considered as part of the trustor's or survivor's estate and are, therefore, not taxable to either. Also called a B trust.
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residual value residue