Discretionary Trust

Discretionary Trusts: A discretionary trust, also known as a family trust or a trust of discretion, is a type of trust where the trustee has discretion over how to distribute the trust's income and assets among the beneficiaries. Unlike other types of trusts where distributions are made according to specific criteria or proportions, the trustee of a discretionary trust has the flexibility to decide which beneficiaries receive distributions and in what amounts. This flexibility allows the trustee to respond to the changing circumstances and needs of the beneficiaries, making discretionary trusts a popular choice for estate planning and asset protection purposes. The beneficiaries of a discretionary trust do not have a fixed entitlement to the trust's income or assets but rather rely on the trustee's discretion to receive distributions based on their needs and circumstances.

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