terminable marital trust

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.
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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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.