family trust

Family Trust

A trust into which the trustor places assets to be distributed to children following his/her death. Specifically, a family trust does not name the trustor's spouse as a beneficiary. See also: Q-TIP.

family trust

A trust established for the purpose of passing assets to children or other heirs rather than to a surviving spouse. See also sprinkling trust.
Mentioned in ?
References in periodicals archive ?
The family trust would be set up to benefit the surviving spouse during his or her lifetime and, upon the surviving spouse's death, the trust assets would pass to beneficiaries other than the surviving spouse, normally the children.
The bill also added "unregulated" or "exempt" family trust companies to the regulated and lightly regulated forms of family trusts.
Ms Bradley told MPs: "Ofcom's report states that the proposed transaction would give the Murdoch Family Trust material influence over news providers with a significant presence across all key platforms.
from the Kelly Family Trust for total cash consideration of CDN 5.
Lee Gardner, president/CEO of the $442 million Family Trust Federal Credit Union in Rock Hill, S.
Global Banking News-November 4, 2016--Inter National Bank to be acquired by Collins Family Trust
Contractor name : JANORMUS PTY LTD (ACN 001 612 719) AS THE TRUSTEE FOR THE ANDREW DOBROHOTOFF FAMILY TRUST & THE ELLA DOBROHOTOFF FAMILY TRUST
She also became trustee of the Stuart Family Trust, the beneficiary of that policy.
by way of the acquisition of 20,302,123 ordinary shares in BGL held by the DJ Family Trust for Forte shares, Forte said.
The founders of TrustUs New Zealand say they have developed an easy online way for people to set up their own family trust, "protecting your home and any potential life insurance lump sum pay-outs from excessive estate administration fees, unwanted claims, general drama or disorder, if you were to suddenly pass away, tomorrow".
Although your parents may provide direction to the trustees of a family trust as to how to distribute the trust assets, the trustees are not legally bound by this direction.
The NBA said that the league, Shelly Sterling and The Sterling Family Trust had "resolved their dispute over the ownership of the Los Angeles Clippers.