discretionary trust

discretionary trust
discretionary trust see trust

Merriam-Webster’s Dictionary of Law. . 1996.

discretionary trust
A common type of trust that grants the trustee broad power to decide when and how much income or property to distribute to a beneficiary.
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate

Nolo’s Plain-English Law Dictionary. . 2009.

discretionary trust
A type of trust under which the trustees have the power to accumulate income (during the permitted accumulated period) and subject to that, to distribute income or capital among a group of beneficiaries as they think fit.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


discretionary trust
An arrangement whereby property is set aside with directions that it be used for the benefit of another, the beneficiary, and which provides that the trustee (one appointed or required by law to administer the property) has the right to accumulate, rather than pay out to the beneficiary, the annual income generated by the property or a portion of the property itself.

Dictionary from West's Encyclopedia of American Law. 2005.


discretionary trust
An arrangement whereby property is set aside with directions that it be used for the benefit of another, the beneficiary, and which provides that the trustee (one appointed or required by law to administer the property) has the right to accumulate, rather than pay out to the beneficiary, the annual income generated by the property or a portion of the property itself.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

  • Discretionary trust — Wills, trusts and estates …   Wikipedia

  • discretionary trust — In the context of mutual funds, refers to a mutual fund or unit trust whose management decides on the best way to use the assets without restriction to a specific type of security. Bloomberg Financial Dictionary In the context of trusts, refers… …   Financial and business terms

  • discretionary trust — 1) A trust in which the shares of each beneficiary are not fixed by the settlor in the trust deed but may be varied at the discretion of some person or persons (often the trustees). In an exhaustive discretionary trust all the income arising in… …   Big dictionary of business and management

  • discretionary trust — 1) A trust in which the shares of each beneficiary are not fixed by the settlor in the trust deed but may be varied at the discretion of some person or persons (often the trustees). In an exhaustive discretionary trust all the income arising in… …   Accounting dictionary

  • discretionary trust — An anomalous term from the standpoint of absolute discretion in the trustee, since unbridled discretion in a trustee negatives the necessary separation of legal and equitable ownership. Best defined as a trust in which a broad discretion is… …   Ballentine's law dictionary

  • discretionary trust — /dɪsˈkrɛʃənri trʌst/ (say dis kreshuhnree trust) noun Law a trust in which the trustees have absolute discretion as to the application of the trust capital and income (opposed to a fixed trust) …  

  • discretionary trust — noun a trust that gives the trustee discretion to pay the beneficiary as much of the trust income as the trustee believes appropriate • Hypernyms: ↑trust …   Useful english dictionary

  • non-discretionary trust — n.    a trust in which the trustee is directed to invest only in specifically named securities and to diversify the investments among certain types of securities. The trustee has no discretion or personal decision making power in the matter.… …   Law dictionary

  • Discretionary trusts and powers in English law — are elements of the English law of trusts, specifically of express trusts. Express trusts are trusts expressly declared by the settlor; normally this is intended, although there are situations where the settlor s intentions create a trust… …   Wikipedia

  • trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …   Law dictionary

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