Clifford trust

noun

Law.

a type of living trust set up for at least a 10-year period, during which the income goes to a beneficiary and after which the principal reverts to the grantor.

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After George B. Clifford, plaintiff in a suit against the Internal Revenue Service in 1940; regulations resulting from the suit defined the trust

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Examples have not been reviewed.

There was for example the Clifford trust.

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