|
WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebTerm: Discretionary Trust Definition: A discretionary trust is a legal arrangement in which the trustee has the discretion to determine how and when the trust's assets are distributed to the beneficiaries. Unlike other types of trusts, the beneficiaries do not have a guaranteed entitlement to the assets, as it is the trustee who has the power to make decisions based on the beneficiaries' needs and circumstances. Senses: 1. Noun: A type of trust in which the trustee has the discretion to distribute assets to the beneficiaries. 2. Noun: A legal arrangement that allows the trustee to make decisions regarding the distribution of assets to beneficiaries based on their individual needs. Sample Sentences: 1. The discretionary trust was established to provide for the education and well-being of the beneficiaries. 2. As per the terms of the discretionary trust, the trustee may distribute the income generated by the trust to the beneficiaries or reinvest it for future growth. 3. The discretionary trust was created to ensure that the assets are protected and distributed in a manner that best serves the beneficiaries' interests. 4. The beneficiaries of the discretionary trust have no entitlement to the trust's assets unless the trustee exercises their discretion to distribute them. 5. The discretionary trust grants the trustee the power to consider the financial and personal circumstances of the beneficiaries before making any distributions. Related Products: | ||||
discrete discrete discreteness discretion discretion may very well be the better part of valor discretional discretionary discretionary discretionary trust discretization discretly discribancy discribe discriminable discriminacy discriminant discriminat
|