| Part of Speech | Definition | |
| Noun | 1. A trust established to shift the income to someone who is taxed at a lower rate than the grantor for a period of 10 years or more.[Wordnet]. | |
Source: WordNet 3.0 Copyright © 2006 by Princeton University. All rights reserved. | Top | |
Common Expressions: Clifford trust
| Expressions | Definition | ||
| Clifford trust | A trust established to shift the income to someone who is taxed at a lower rate than the grantor for a period of 10 years or more. Source: Wordnet 3.0 Copyright © 2006 by Princeton University. All rights reserved. | ||
Source: compiled by the editor from various references; see credits. | Top | ||
Specialty Expressions: Clifford trust
| Expressions | Domain | Definition | |
| Clifford trust | Finance | A fixed-term, irrevocable trust account usually opened as a means of reducing the income taxes of the grantor (the person who opens the account and deposits funds in the account). The trust must last for a minimum of 10 years. During that time, income from the account is paid to a named beneficiary, and thus is not taxable to the grantor. At the end of the term of the trust, the principal, or property placed in trust, reverts to the grantor. (references) | |
Source: compiled by the editor from various references; see credits. | Top | ||
