accumulation trust

accumulation trust
accumulation trust see trust

Merriam-Webster’s Dictionary of Law. . 1996.

accumulation trust
A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but directs that Nick not get a penny until he gets a Ph.D in French; Nick is the beneficiary of an accumulation trust.
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate

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


accumulation trust
An arrangement whereby property is transferred by its owner—the settlor— with the intention that it be administered by someone else—a trustee— for another person's benefit, with the direction that the trustee gather, rather than distribute, the income of the trust and any profits made from the sale of any of the property making up the trust until the time specified in the document that created the trust.

Dictionary from West's Encyclopedia of American Law. 2005.


accumulation trust
An arrangement whereby property is transferred by its owner—the settlor— with the intention that it be administered by someone else—a trustee— for another person's benefit, with the direction that the trustee gather, rather than distribute, the income of the trust and any profits made from the sale of any of the property making up the trust until the time specified in the document that created the trust.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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