Clifford trust

Also found in: Financial.
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Noun1.Clifford trust - a trust established to shift the income to someone who is taxed at a lower rate than the grantor for a period of 10 years or more
grantor trust
trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
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References in periodicals archive
524 (1965)], a "Clifford trust" document contained a provision giving the grantors the power to appoint a successor trustee that could have resulted in the trust income being taxable to the grantors.
Savings clauses
An example of an incomplete transfer is the old Clifford Trust. Property was placed in trust for a limited period of time, after which ownership reverted to the original donor.
Where there's a will, is there really a way?
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