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Simple English definitions for legal terms

nondiscretionary trust

Read a random definition: South Carolina

A quick definition of nondiscretionary trust:

A nondiscretionary trust, also called a fixed trust, is a type of trust where the person in charge of managing the assets, called the trustee, has no power to make decisions about how the assets are distributed. The person who created the trust, called the trustor, decides exactly how the assets will be given to the beneficiaries. The trustee's job is to make sure the assets are managed well, but they cannot change what the beneficiaries receive.

A more thorough explanation:

Nondiscretionary trust

A nondiscretionary trust, also known as a fixed trust, is a type of trust where the trustee has no power to make decisions about how the assets are managed or distributed. The trustor specifies exactly how the assets are to be distributed, and the trustee must follow those instructions. While the trustee is responsible for managing the assets for financial success, they cannot change what the beneficiaries receive.

One example of a nondiscretionary trust is a trust set up to provide for a child's education. The trustor may specify that a certain amount of money be distributed each year to pay for tuition, books, and other educational expenses. The trustee is responsible for managing the assets in the trust to ensure that there is enough money to cover these expenses, but they cannot use the money for any other purpose or change the amount of money that is distributed each year.

Another example of a nondiscretionary trust is a trust set up to provide for a disabled family member. The trustor may specify that a certain amount of money be distributed each month to cover the person's living expenses and medical bills. The trustee is responsible for managing the assets in the trust to ensure that there is enough money to cover these expenses, but they cannot use the money for any other purpose or change the amount of money that is distributed each month.

These examples illustrate the concept of a nondiscretionary trust because in both cases, the trustee has no power to make decisions about how the assets are managed or distributed. The trustor has specified exactly how the assets are to be used, and the trustee must follow those instructions. While the trustee is responsible for managing the assets for financial success, they cannot use the money for any other purpose or change the amount of money that is distributed each year or month.

nondisclosure agreement | nondisparagement clause

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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