When a trustee gives assets to the beneficiary and has no other duty. AKA naked trust and simple trust. Refer to active trust.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
When a trustee gives assets to the beneficiary and has no other duty. AKA naked trust and simple trust. Refer to active trust.
This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
Powered by Black’s Law Dictionary, Free 2nd ed., and The Law Dictionary.