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Accumulation Trust |
Also found in: Financial | 0.01 sec. |
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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. Many states have laws governing the time over which accumulations may be made. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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