ACCUMULATION TRUST
\ɐkjˌuːmjʊlˈe͡ɪʃən tɹˈʌst], \ɐkjˌuːmjʊlˈeɪʃən tɹˈʌst], \ɐ_k_j_ˌuː_m_j_ʊ_l_ˈeɪ_ʃ_ə_n t_ɹ_ˈʌ_s_t]\
Definitions of ACCUMULATION TRUST
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A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.
By Oddity Software
