A temporary trust (established to last at least ten years and one day, or until the death of the beneficiary) in which assets are irrevocably transferred to the trust and income from the trust is given to the beneficiary. When the trust is terminated, the principal passes back to the creator. Clifford trusts are used almost exclusively by people with dependent children or dependent parents. Income from trusts created after March 1, 1986, is taxed at the donor's rate even after the minority child has reached 14 years of age.