MLchartDataset catalogue

Pot trust

Term · Law · MLC-T-LAW-003819

A single trust established for the benefit of multiple beneficiaries, most often a group of children, where assets are held in a common fund. The trustee has discretion to make distributions to the beneficiaries according to their individual needs, rather than in equal shares. The trust terminates or divides into separate shares when the youngest beneficiary reaches a specified age, such as 21 or 25.

Table 1. Record
IdentifierMLC-T-LAW-003819
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003819",
  "term": "Pot trust",
  "field": "Law",
  "definition": "A single trust established for the benefit of multiple beneficiaries, most often a group of children, where assets are held in a common fund. The trustee has discretion to make distributions to the beneficiaries according to their individual needs, rather than in equal shares. The trust terminates or divides into separate shares when the youngest beneficiary reaches a specified age, such as 21 or 25.",
  "url": "https://mlchart.com/terminology/law/pot-trust/"
}

Record 3,845 of 5,445 in Law terminology (MLC-0107). Request the full dataset.