precatory trust
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precatory trust — A term of dual meaning: (1) a trust which is not enforceable for the reason that the words of entreaty or permission relied upon to create a trust are not to be construed as words of command or direction so as effectively to create a trust; (2) a … Ballentine's law dictionary
precatory trust — /prɛkətəri ˈtrʌst/ (say prekuhtuhree trust) noun Law a trust (def. 9a) construed from the use of precatory words, if these can be regarded as an intention to impose a trust and not merely the expression of a wish …
precatory trust — noun : a trust created by precatory words construed as mandatory … Useful english dictionary
trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… … Law dictionary
trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… … Black's law dictionary
precatory — prec·a·to·ry / pre kə ˌtōr ē/ adj: expressing a wish or desire but not creating a legal obligation or affirmative duty a precatory remark the precatory words ◇ When interpreting wills, courts will look to whether a direction is precatory or… … Law dictionary
precatory language — Words in a will or a trust used by the testator (the person making the will) or settlor (the person making a trust) to express a wish or desire to have his or her property disposed of in a certain way or to have some other task undertaken, which… … Law dictionary
Precatory — Precative Prec a*tive, Precatory Prec a*to*ry, a. [L. precativus, precatorius, fr. precari to pray. See {Precarious}.] Suppliant; beseeching. Bp. Hopkins. [1913 Webster] {Precatory words} (Law), words of recommendation, request, entreaty, wish,… … The Collaborative International Dictionary of English
Precatory words — Precative Prec a*tive, Precatory Prec a*to*ry, a. [L. precativus, precatorius, fr. precari to pray. See {Precarious}.] Suppliant; beseeching. Bp. Hopkins. [1913 Webster] {Precatory words} (Law), words of recommendation, request, entreaty, wish,… … The Collaborative International Dictionary of English
precatory words — Words of entreaty, request, desire, wish, or recommendation, employed in wills, as distinguished from direct and imperative terms. Mere precatory words or expressions in a trust or will are ineffective to dispose of property. There must be a… … Black's law dictionary
open trust — An active trust, which may in some instances be a precatory trust. Anno: 49 ALR 64 … Ballentine's law dictionary
