Chicago Government Lawyer, Illinois
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Alt Leo F221 N La Salle St Ste 2014
Chicago, IL 60601
Legal Term Highlighted
accumulation trust: A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.
