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Pablo，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与上市公司代理有关的法律文件。