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Definitions from WordNet

Definitions from the Web

Nondiscretionary Trust

Description:

A nondiscretionary trust, also known as an irrevocable trust, is a type of trust in which the trustee is bound by specific instructions outlined in the trust agreement. The trustee has no discretionary powers and must follow these instructions when managing the trust assets, distributions, and other matters.

Senses:

Sense 1 [Noun]:

A legal arrangement where the trustee is obligated to follow predetermined instructions in managing the trust assets.

Sense 2 [Adjective]:

Referring to something related to or involving a nondiscretionary trust.

Examples:

Example 1 [Noun]:

The wealthy entrepreneur established a nondiscretionary trust to ensure that his children would only receive their inheritance at a specific age.

Example 2 [Adjective]:

The attorney specialized in handling cases related to nondiscretionary trust disputes.

Related Products:

Amazon search for "irrevocable trust guide"

Amazon search for "trust administration book"