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A trust that pays income to beneficiaries during a period of time (for live(s) or a term of years, or a combination of both), followed by a distribution of the remainder to other beneficiaries. Within the charitable context, this type of trust would have both charitable and non-charitable beneficiaries as income and/or remainder beneficiaries.

Synonyms: split interest trusts
Synonyms list (a comma-separated list)
split interest trusts