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Simple English definitions for legal terms

nondiscretionary trust

Read a random definition: conditional bequest

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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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