absolute trust
noun[C]
ukusFINANCE,LAW
alegalarrangementin which apersongives anindividualororganizationcontroloftheirmoneyorpropertyaftertheirdeath, andnamesthepersonorpeoplewho willreceiveit at aparticulartime. Thesedetailscannotlaterbechanged:
Yourchildrenwillautomaticallybecomeentitledtomoneyheldin anabsolutetrustatage18.
Compare
discretionary trust
flexible trust