Nolo's Plain-English Law Dictionary

Accumulation Trust

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but directs that Nick not get a penny until he gets a Ph.D in French; Nick is the beneficiary of an accumulation trust.
NOLO4:DRU1.6.8.11.20160427.37128