WordReference Random House Unabridged Dictionary of American English © 2025
Clif′ford trust′, [Law.]
- Lawmakinga type of living trust set up for at least a 10-year period, during which the income goes to a beneficiary and after which the principal reverts to the grantor.
- regulations resulting from the suit defined the trust after George B. Clifford, plaintiff in a suit against the Internal Revenue Service in 1940