Remainderman

The remainderman is the beneficiary entitled to receive an asset after a life interest ends — usually on the death of the life tenant. While the life tenant enjoys the asset during their lifetime, the remainderman holds a "remainder" interest that vests fully only later. Their interest is real and protected, so the life tenant cannot sell or destroy the asset to the remainderman's disadvantage.

Remaindermen are most often the children of a first marriage who will inherit the family home after a surviving step-parent's life interest ends. Example: under his father's Will, Jack is the remainderman of the family home and becomes its full owner once his stepmother's life interest ceases. Because years can pass before the interest vests, Wills often name substitute beneficiaries in case the remainderman dies first.