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A personal trust whose trustee has no discretion in deciding how income will be distributed to the beneficiary.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A trust in which the trustee has no ability to make investment decisions with regard to the assets in the trust and/or has no control over when and how the assets are distributed to the beneficiary. In a nondiscretionary trust, the trustee simply sees to it that the grantor's wishes are carried out.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved