executory trust

Definition of "executory trust"
  1. A type of fiduciary relationship in which the trustee or trust maker must complete certain tasks, which may include establishing the property involved, identifying the intended recipients, or apportioning resources
How to use "executory trust" in a sentence
  1. The lawyer mentioned that he has to further execute certain tasks before the executory trust can become fully operational.
  2. In the will, an executory trust was created listing specific duties for the trustee to perform.
  3. The executory trust provided for the trustee to secure the property before making any distributions.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z