beach bum trust provision

beach bum trust provision
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.
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate

Nolo’s Plain-English Law Dictionary. . 2009.

beach bum trust provision
n.
   a requirement in a trust that a beneficiary can only receive profit from the trust equal to the amount he/she earns. This provision is intended to encourage the beneficiary to work, and not just lie around the beach and live off the trust.
   See also: trust

Law dictionary. . 2013.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • Beach bum trust provision — A beach bum trust provision, in the law of trusts, ties the ability of a trust beneficiary to take from the trust to the beneficiary s own earnings. Such a provision serves to prevent a beneficiary from lazily living off the trust funds. If the… …   Wikipedia

  • living trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. living trust …   Law dictionary

  • List of law topics (A-E) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”