PROTECTIVE TRUST
\pɹətˈɛktɪv tɹˈʌst], \pɹətˈɛktɪv tɹˈʌst], \p_ɹ_ə_t_ˈɛ_k_t_ɪ_v t_ɹ_ˈʌ_s_t]\
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A trust created that will protect the assets of the trustor in their lifetime from the effect of the trustor declaring bankruptcy. The trustee is responsible for any interest earned by the trust being given to the trustor at this time.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.