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Legal Terms - executory trust (imperfect trust)
A trust in which the general intention of the settlor has been declared, but the specific terms and limitations are not entirely defined. Trusts of this nature frequently arise in family settlements with the intention of providing for any future offspring. An executory trust is a discretionary trust. There is no enforceable right of a beneficiary to any portion of the
A trust in which the general intention of the settlor has been declared, but the specific terms and limitations are not entirely defined. Trusts of this nature frequently arise in family settlements with the intention of providing for any future offspring. An executory trust is a discretionary trust. There is no enforceable right of a beneficiary to any portion of the
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