{"Term":"Residual beneficiaries","Definition":"\u003cp\u003eAre also known as final beneficiaries and are beneficiaries that have a right to any undistributed trust property when the trust is wound up.\u003c/p\u003e\n\u003cp\u003eThe residual beneficiary does not have a fixed, vested or contingent interest in the trust property.\u003c/p\u003e\n\u003cp\u003eYour trust deed may describe residual beneficiaries as a class or group \u0026ndash; for example, children of the settlor.  If this is the case, describe the class to us when registering the New Zealand foreign trust.\u003c/p\u003e","TeReoTerm":"","TeReoDefinition":""}