protective trust |
Definition
Trust created to protect the assets of the trustor in his or her lifetime from the effect of events such as trustor's bankruptcy. When such event occurs, the trust property (or income derived from it) is applied at the absolute discretion of the trustee for the benefit of the trust's beneficiaries.
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protective trust is in the Corporate, Commercial, & General Law subject.
protective trust appears in these other term: family protective trust (FPT)
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