discretionary trust

noun

  • Decedents Estates Law/ Estate and Trusts Law
  • Family Law

Definitions of discretionary trust

  • a trust in which the beneficiaries’ shares are not fixed in the trust deed but are decided by the trustees (=person controlling property under trust on behalf of beneficiary) as they think appropriate

    The wealthy couple would like to set up a discretionary trust in favour of their two children.

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Phrase Bank for discretionary trust