Clifford trust

noun

Law.

1. 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.

Word History and Origins

Origin of Clifford trust¹

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

Example Sentences

There was for example the Clifford trust. 

From Forbes