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
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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"
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For discretionary trusts, anything in excess of PS1,000 is taxed at 38.
For those who contemplate making more substantial gifts, but may have concerns about the ultimate destination of assets or wish to protect assets from young or inexperienced beneficiaries, the use of discretionary trusts during lifetime or through their wills can play an important role.
Geared toward the study of English law in a Bachelor of Laws (LLB), postgraduate, or conversion course, this work contains 13 chapters discussing equity and trusts, the creation of express private trusts, purpose trusts, constitution of trusts, secret trusts, protective and discretionary Trusts, Resulting Trusts and Constructive Trusts, Charitable trusts, the nature of trusteeship, the duties of the trustees, the power of trustees, variation of trusts, breach of trust and remedies.
1) The article suggested that former spouses of beneficiaries of Florida discretionary trusts may be able to obtain a continuing garnishment over trust assets intended for the beneficiary, despite what appeared to be contrary law enacted as part of the 2006 Florida Trust Code in F.
NATSD also claims to provide advisors with flexible and innovative trust and tax laws, including: unlimited trust duration, allowing a trust to endure perpetually; no state tax on income, capital gains, dividends, interest, intangibles or any other income; privacy and security to protect the confidentiality of a trust, including sealed trust records; self-settled asset protection trusts and third-party discretionary trusts for asset protection; directed and delegated trusts.
In most cases, Discretionary Trusts are set up below this limit, which enable gifts to be made without any initial tax charges.
In March, Leeds chief executive Shaun Harvey gave evidence to the inquiry and told MPs the club's owners were a holding company called FSF Limited based in the West Indian island of Nevis, owned by three discretionary trusts.
The club's chief executive Shaun Harvey said Leeds is owned by a holding company called FSF, based in the West Indies island of Nevis and owned by three discretionary trusts.
Nil-rate band discretionary trusts and lifetime gifts can help reduce this.
However, he said that people could reduce their liability by making wills incorporating "Nil Rate Discretionary Trusts.