According to www.law.com's dictionary,a Beach Bum Trust Provision is: "A requirement in a trust that a beneficiary can only receive profit from the trust equal to the amount he/she earns. This provision is intended to encourage the beneficiary to work, and not just lie around the beach and live off the trust."
Friday, March 13, 2009
Elsie Law's Daily Dose Of The Law
According to www.law.com's dictionary,a Beach Bum Trust Provision is: "A requirement in a trust that a beneficiary can only receive profit from the trust equal to the amount he/she earns. This provision is intended to encourage the beneficiary to work, and not just lie around the beach and live off the trust."
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