discretionary trust


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discretionary trust

n
(Banking & Finance) a trust in which the beneficiaries' shares are not fixed in the trust deed but are left to the discretion of other persons, often the trustees
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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Noun1.discretionary trust - a trust that gives the trustee discretion to pay the beneficiary as much of the trust income as the trustee believes appropriate
trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
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But, if the home is left to a discretionary trust, even if the beneficiaries are direct descendants and they end up with the property, the deceased's estate will not qualify for the RNRB.
Furthermore, any benefits from the plan are paid to a discretionary trust. The beneficiaries of the trust will be your family members and dependants.
One of them was a trust, Andalusian Discretionary Trust, while the other three were established as companies: Andalusian Establishment Limited, Andalusian Enterprises Limited and Andalusian Holdings Limited.
One of them was a trust, Andalusian Discretionary Trust, while the other three were set up as companies: Andalusian Establishment Limited, Andalusian Enterprises Limited and Andalusian Holdings Limited.
'Since the English and Jersey law relating to the governing discretionary trust is an intricate and esoteric subject, my understanding was based on professional advice and my reading of settlement as a lay person, even not accepted by the Supreme Court would not and do not warrant a declaration of dishonesty on my part as the trust arrangement is legitimate and lawfully recognised and valid structure and there was never any intent to mislead or conceal the trust from the court, my former constituents or from any revenue authorities or regulators and nor is there any evidence to the contrary to the record,' he states.
Money may be paid into a discretionary trust and it can take up to three months or more for it to be released.
When we challenged Cameron on his windfall, he claimed he was not responsible for decisions taken by his father and the "trustees of a discretionary trust".
Under the terms of his Will, Mr Sargeant's estate passed into a discretionary trust, with the wish for Mrs Sargeant to benefit from the trust during her lifetime by way of an income.
The advice given was to establish an irrevocable discretionary trust, which, the petition stated, Mr Tareen would fund by remittances through official banking channels from his tax-paid income in Pakistan.
On the other hand, there is also a concept of discretionary trust , in such trust although the beneficiary has an interest in the trust but there is no commitment on part of the trustee to confer on him the benefit of any defined property, the submissions state.
The response also states that the case concerning Tareen involves a discretionary trust where although the beneficiary has an interest in the trust [sic] there is no commitment on the part of the trustee to confer on him the benefit of any defined property.
The response also states that the case concerning Tareen involves a discretionary trust where 'although the beneficiary has an interest in the trust [sic] there is no commitment on the part of the trustee to confer on him the benefit of any defined property.'