A Property Control Trust is any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include 1) special needs trusts designed to assist people who have special physical, emotional, or other requirements; 2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and 3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.
[Last updated in December of 2020 by the Wex Definitions Team]