Annuity trust

What does Annuity trust mean in American Law?

The definition of Annuity trust in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

A trust calling for fixed yearly payments to the beneficiary even if the income earned by the property in trust does not yield the stipulated amount, the additional amount needed being taken from the principal.

Meaning of Annuity Trust

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