In addition, if the beneficiary has the right to demand immediate possession and enjoyment of corpus or income, the beneficiary has a present interest whether or not the right is exercised and whether or not the beneficiary has a vested interest
in the trust corpus or income (Estate of Cristofani, 97TC 74 (1991)).
Although the amount in which Jill has a vested interest
is now $26,247.
The Fourth Circuit is the first circuit to determine whether a participant's current or former spouse has a vested interest
in the surviving spouse benefits.
In most situations, including Crummey, the implication is that the donee has a vested interest
or, at least, a certain interest.