Peace Talks Glossary
Peace Talks Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Bypass trust
A trust which creates a life estate for
a beneficiary with the trust principal going to a final beneficiary when
the life beneficiary dies. For example, money may be left for a child,
with the child’s parent as the life beneficiary. The parent may, according
to the terms of the trust, use the income and/or property during his or
her life, with the principal going to the child when the parent dies.
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