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12:05 Apr 15, 2005
English to Spanish translations [Non-PRO] Law/Patents - Law (general)
English term or phrase:permissible beneficiary
(en un testamento)
No fiduciary shall participate in the exercise of discretion with respect to the payment of income or principal, the termination of a trust, or the allocation of receipts and expenditures between income and principal, where a permissible beneficiary is either such fiduciary in an individual capacity, such fiduciary's spouse, or a person to whom such fiduciary in an individual capacity owes a legal obligation of support.