executory trust
- 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
- The lawyer mentioned that he has to further execute certain tasks before the executory trust can become fully operational.
- In the will, an executory trust was created listing specific duties for the trustee to perform.
- The executory trust provided for the trustee to secure the property before making any distributions.
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