protective trust

Show Summary Details

Quick Reference

A trust for a period no longer than the beneficiary's life, the period ending if certain events (commonly including the bankruptcy of the beneficiary) take place. At the occurrence of such an event, the income of the property is applied at the absolute discretion of the trustees for a class that includes the beneficiary or his family, the beneficiary no longer having any right to receive the income himself. The protective trust is governed by section 33 of the Trustee Act 1925.

Subjects: Law.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.