beach bum trust provision
A clause in the trust that ties the benefits received by the beneficiary to the his / her own separate earnings. Thus, a beneficiary who does nothing will receive nothing from the trust (preventing beneficiaries from living solely off the trust and becoming a beach bum).
Definition from Nolo’s Plain-English Law Dictionary
A clause in a trust that requires the trust beneficiary to earn his or her own money in order to receive trust funds. This provision is intended to encourage the beneficiary to work, and not just lie around the beach and live off the trust.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm
