Donald M. Thompson - Wills, Trusts, and Estate Planning

WILLS, TRUSTS, AND ESTATE PLANNING

Remainder/Reversion

This term is used to describe the interest that follows a life estate or a term of years. If an interest is given to the surviving spouse for life and then the property passes to the kids, the kids have a remainder interest. If an interest is given to a charity for ten years and then to the kids, the kids have a remainder interest. If after the life interest or the 10 years the interest comes back to the grantor, it is called a reversion.

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Donald M. Thompson * 55 W. Monroe #3950; Chicago, IL 60603
Ph: 312-782-0844 * Fax: 312-201-1436 * Email:
donthompsonlaw@sbcglobal.net