Wasting Trust

A trust is a legal structure for controlling money. They are usually set up for a specific purpose...retirement account, charity organization, estate distribution, etc.

A wasting trust is one where the money goes out, but nothing comes in. It basically exists as a pile of money, slowly fading away, like a pro athlete's career after 30 (yes, except you, Mr. Brady). Funds get extracted over time, and the total value of the trust diminishes. It wastes away. Eventually, it gets completely depleted...gone for good.