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About: Honorary trust     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Volition105652593, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: yago:WikicatWillsAndTrustsyago:Ability105616246yago:Abstraction100002137yago:Cognition100023271yago:Faculty105650329yago:PsychologicalFeature100023100deviceyago:Volition105652593 New Facet based on Instances of this Class

An honorary trust, under the law of trusts, is a device by which a person establishes a trust for which there is neither a charitable purpose, nor a private beneficiary to enforce the trust. While such a trust would normally be void for lack of a beneficiary, many jurisdictions have carved out two specific exceptions to this rule: trusts for the care of that person's pets; and trusts to provide for the maintenance of cemetery plots. Like many states, New York has only recently allowed such trusts by statute.