special trusts* Clause Samples

special trusts*. When property is accepted by the Trustees upon special trusts to be declared by the donor all the powers and provisions of these presents shall be deemed to be incorporated in the deed declaring such special trusts except insofar as the same shall be expressly excluded or modified or be inconsistent with such special trusts.

special trusts*. These types of trusts, which are taxed at the same rate as a natural person, may only created to benefit a person suffering from serious mental illness as described in the Mental Illness Act, Nr 18 of 1973, or that suffers from serious physical deformity. Testamentary trusts benefiting any living family member, of whom the youngest turn 21 in a tax year, may in certain cases also be classified as a special trust.