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About: Bare 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:PsychologicalFeature100023100yago:Volition105652593 New Facet based on Instances of this Class

A bare trust is a trust in which the beneficiary has a right to both income and capital and may call for both to be remitted into his own name. Assets in a bare trust are held in the name of a trustee, but the beneficiary has the right to all of the capital and income of the trust at any time if they’re 18 or over (in England and Wales), or 16 or over (in Scotland). Bare trusts are often used to pass assets to young people - the trustees look after them until the beneficiary is old enough.