Business, Legal & Accounting Glossary
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 stipulates that Nick will not get a penny until he gets a PhD in French; Nick is the beneficiary of an accumulation trust.
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This glossary post was last updated: 22nd April, 2020 | 1 Views.