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LSDefine

Simple English definitions for legal terms

property control trust

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A quick definition of property control trust:

A Property Control Trust is a type of trust that puts rules in place to control what the beneficiaries can do with the money or property they receive. There are different types of Property Control Trusts, including ones that help people with special needs, ones that stop beneficiaries from spending all the money at once, and ones that let the trustee decide how to divide the money among the beneficiaries.

A more thorough explanation:

A Property Control Trust is a type of trust that places limitations or controls on the rights of the beneficiaries. There are different types of Property Control Trusts, including:

  • Special Needs Trusts: These trusts are designed to help individuals with special physical, emotional, or other needs. The trust can provide for their care and support without affecting their eligibility for government benefits.
  • Spendthrift Trusts: These trusts are created to prevent beneficiaries from wasting the trust principal. The trustee has control over the distribution of funds, and the beneficiary cannot access the funds directly.
  • Sprinkling Trusts: These trusts allow the trustee to decide how to distribute trust income or principal among the beneficiaries. The trustee can distribute the funds based on the needs of each beneficiary.

For example, a special needs trust can be set up for a person with a disability to provide for their care and support. The trust can pay for medical expenses, therapy, and other needs without affecting their eligibility for government benefits. A spendthrift trust can be created for a beneficiary who has a history of poor financial decisions. The trustee can control the distribution of funds to ensure that the beneficiary does not waste the money. A sprinkling trust can be established to provide for multiple beneficiaries with different needs. The trustee can distribute the funds based on each beneficiary's needs.

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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