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fixed trust

Last modified: Thu Feb 23 16:37:37 2006

A type of Trust in which the share received by each beneficiariy is known in advance; that is, the Trustee does not have a discretion to vary the proportion paid to each beneficiary (see: DiscretionaryTrust). It is not necessary that the actual value of the share be known in advance (consider the case where the trust is of floated stock), but only the proportion.

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