Definition - What does Fixed Trust mean?
Justipedia explains Fixed Trust
There are two general classifications of trusts: fixed trusts and discretionary trusts. A fixed trust limits the discretion of a trustee. A discretionary trust relies on the decisions of the trustee. In a discretionary trust, a trustee can determine which beneficiaries will receive benefits along with the nature and extent of the benefit that a beneficiary receives. Some common examples of fixed trusts include life interest (which pays income to an individual for their lifetime), trusts established for a minor, and remainder (which pays capital to an individual when the beneficiary dies).
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