Family pot trust

{
  "id": "MLC-T-LAW-002055",
  "term": "Family pot trust",
  "field": "Law",
  "definition": "A single trust established for the benefit of multiple beneficiaries, often children, where the trustee has discretion to distribute income and principal among them based on individual needs. This arrangement allows for flexibility in providing for beneficiaries as they mature, rather than distributing equal shares at fixed ages. The trust terminates and assets are distributed when the youngest beneficiary reaches a specified age.",
  "url": "https://mlchart.com/terminology/law/family-pot-trust/"
}