nondiscretionary trust

nondiscretionary trust definition - business

nondiscretionary trust

A trust in which the trustee has limited decision-making authority with regard to the investments that can be held by the trust and the manner in which distributions can be made from the trust. Also called fixed trust. Compare discretionary trust.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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