terminable marital trust

(redirected from Terminable Marital Trusts)

Terminable Marital Trust

A trust giving the beneficiary, the spouse of the trustor, access to the trust's income, but not assets, upon the death of the trustor. That is, the spouse is able to access the capital gains or other income deriving from the trust, but not the assets of the trust itself. The assets usually pass to other survivors upon the death of the second spouse.

terminable marital trust

A trust in which the surviving spouse has use of the trust's income but not its assets. These assets will pass to others (most likely children) at the death of the spouse.