Clifford trust

Definition of "Clifford trust"
  1. A type of long-term arrangement, lasting for a minimum of ten years, in which the earnings are allocated to a specific recipient, and the original amount returns to the person who established it when the arrangement ends
How to use "Clifford trust" in a sentence
  1. The couple decided to establish a Clifford trust for their grandson's college education.
  2. The beneficiary of the Clifford trust receives regular income from it over ten years.
  3. Upon termination of the Clifford trust, the principal amount was reverted to the settlor.

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