Business, Legal & Accounting Glossary
A type of trust in which the share received by each beneficiary is known in advance; that is, the trustee does not have any discretion to vary the proportion paid to each beneficiary. It is not necessary that the actual value of the share be known in advance (consider the case where the trust is of floated company shares), only the proportion.
See also discretionary trust.
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This glossary post was last updated: 6th April, 2020 | 1 Views.