honorary trust

A noncharitable trust that is of doubtful validity because it lacks a beneficiary capable of enforcing the trust.

• Examples include trusts for the care and support of specific animals, or for the care of certain graves. The modern trend is to recognize the validity of such trusts, if the trustee is willing to accept the responsibility. If the trustee fails to carry out the duties, however, a resulting trust arises in favor of the settlor’s residuary legatees or next of kin. [Cases: Trusts 1. C.J.S. Trover and Conversion §§ 1–9, 14–18.]

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词条贡献者

资深译员重在，毕业于世界顶级翻译学院，擅长翻译各类与监管和调查相关的法律文件。