A trust in which the number of shares of each beneficiary are not fixed by the settlor in the trust deed, but at the discretion of the trustees.
Oraciones de ejemplo
- Trustees for a discretionary trust have what the name implies - the discretion to decide which children should receive capital income, and when.
- In a discretionary trust, a beneficiary has no right to any part of the trust property and the trustees have a discretion to apply the property for the benefit of a specified person or persons or classes of persons.
- The powers that are conferred on the trustee, or manager, do not convert the unit trusts into discretionary trusts in the normal acceptation of that term.
For editors and proofreaders
Saltos de línea: dis|cre¦tion|ary trust
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