A beach bum trust provision, in the law of trusts, ties the ability of a trust beneficiary to take from the trust to the beneficiary`s own earnings. Such a provision serves to prevent a beneficiary from lazily living off the trust funds (i.e. a `beach bum`). If the beneficiary earns no income, then he reaps nothing from the trust. ...
Found on
http://en.wikipedia.org/wiki/Beach_bum_trust_provision
(n) Beach Burn Trust Provision is the provisions included in trust deeds which limits the monitory benefits to the beneficiaries to the extend of profits or gains earned by him. This provision is used to benefit the beneficiaries of the trust proportional to their performance
Found on
http://www.encyclo.co.uk/local/21213
A clause in a trust that requires the trust beneficiary to earn his or her own money in order to receive trust funds. This provision is intended to encourage the beneficiary to work, and not just lie around the beach and live off the trust.
Found on
http://www.nolo.com/dictionary/beach-bum-trust-provision-term.html
No exact match found.
