Discretionary trust
Used 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. Used in the context of trusts. Refers to a personal trust in which the power of decision as to how much income or principal each beneficiary receives lies with the trustee.
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Discretionary trust definition was found in categories: Language, Idioms & Slang(1) Law(1) Business & Finance(1) Encyclopedia(1)
Discretionary trust Definition from Language, Idioms & Slang Dictionaries & Glossaries
| WordNet 2.0 |
discretionary trust
Noun
1. a trust that gives the trustee discretion to pay the beneficiary as much of the trust income as the trustee believes appropriate
(hypernym) trust
Noun
1. a trust that gives the trustee discretion to pay the beneficiary as much of the trust income as the trustee believes appropriate
(hypernym) trust
Discretionary trust Definition from Law Dictionaries & Glossaries
| Duhaime.org Legal Dictionary |
Discretionary trust
A trust in which the settlor has given the trustee full discretion to decide which (and when) members of a group of beneficiaries is to receive either the income or the capital of the trust. - (read more on Discretionary trust)
A trust in which the settlor has given the trustee full discretion to decide which (and when) members of a group of beneficiaries is to receive either the income or the capital of the trust. - (read more on Discretionary trust)
Discretionary trust Definition from Business & Finance Dictionaries & Glossaries
| UNODC Money-Laundering Terms |
Discretionary Trust
A trust (revocable or irrevocable) where a number of potential beneficiaries (referred to as a "class") are named but not given a defined interest in the trust. The Trustees are given 'discretion' to decide which members of the class of beneficiaries will benefit from the trust.
A trust (revocable or irrevocable) where a number of potential beneficiaries (referred to as a "class") are named but not given a defined interest in the trust. The Trustees are given 'discretion' to decide which members of the class of beneficiaries will benefit from the trust.
Discretionary trust Definition from Encyclopedia Dictionaries & Glossaries
| Wikipedia English - The Free Encyclopedia |
Discretionary trust
A discretionary trust is a trust where the beneficiaries and/or their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor. Where the discretionary trust is a testamentary trust, it is common for the settlor to leave a letter of wishes for the trustees to guide them as to the settlor's wishes in the exercise of their discretion.
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