Definition from Nolo’s Plain-English Law Dictionary
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.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:22 pm