Trust in which the beneficiaries and their entitlements are not fixed
Wills, trusts and estates
Part of the common law series
Wills
Legal history of wills
Joint wills and mutual wills
Will contract
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Holographic will
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Sections
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Contest
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Property disposition
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Acts of independent significance
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Trusts
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Governing doctrines
Pour-over will
Cy-près doctrine
Hague Convention (conflict law)
Application in civil law
Dishonest assistance
Estate administration
Intestacy
Testator
Probate
Power of appointment
Simultaneous death
Slayer rule
Laughing heir
Advancement
Disclaimer of interest
Inheritance tax
Related topics
Advance directive (Living will)
Blind trust
Forced heirship
Totten trust
Other common law areas
Contract
Tort
Property
Criminal law
Evidence
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In the trust law of England, Australia, Canada and other common law jurisdictions, a discretionary trust is a trust where the beneficiaries and their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor. It is sometimes referred to as a family trust in Australia or New Zealand. Where the discretionary trust is a testamentary trust, it is common for the settlor (or testator) to leave a letter of wishes for the trustees to guide them as to the settlor's wishes in the exercise of their discretion. Letters of wishes are not legally binding documents.
Discretionary trusts can only arise as express trusts. It is not possible for a constructive trust or a resulting trust to arise as a discretionary trust.
and 25 Related for: Discretionary trust information
In the trust law of England, Australia, Canada and other common law jurisdictions, a discretionarytrust is a trust where the beneficiaries and their entitlements...
Discretionarytrusts and powers in English law are elements of the English law of trusts, specifically of express trusts. Express trusts are trusts expressly...
date the disposition takes effect. Charitable trusts this is also a form of discretionarytrust; trusts for a purpose (as opposed to for individuals)...
trusts recognised and used in Australia, including unit trusts, discretionarytrusts, hybrid trusts, and testamentary trusts. Under a discretionary trust...
trust. The establishment of this discretionarytrust is ordinarily exempt from the charge to UK inheritance tax on the establishment of discretionary...
A Henson trust (sometimes called an absolute discretionarytrust), in Canadian law, is a type of trust designed to benefit disabled persons. Specifically...
into Low's personal accounts. He is the beneficiary of numerous discretionarytrust assets said by the US government to originate from payments out of...
International Limited, while a discretionarytrust of Lewis's family owns 70.12%. Previously a private investment trust, English National Investment Company...
("A&M") trusts are a type of discretionarytrust for the benefit of children and young people in England and Wales. The concept of an A&M trust emerged...
(OBRA-93), P.L. 103–66, it was possible to create a self-settled, discretionarytrust for the benefit of the settlor and still allow the settlor to qualify...
trustees to manage the trust assets and to deal with future replacement appointments. The use of a private discretionarytrust can not only be more efficient...
Australia, a family trust refers to a type of discretionarytrust, set up to manage the assets of a family or its business. Family trusts are vehicles for...
v Rosewood Trust Ltd [2003] UKPC 26 is a judicial decision concerning the information rights of a beneficiary under a discretionarytrust. Although the...
seems to indicate that the test of certainty for Denley trusts is the same as for discretionarytrusts. A second way of evading the rules is found in Re Tyler...
understood to require that a valid discretionarytrust need to be able to draw up a complete list of the beneficiaries of the trust in order to be valid; subsequent...
objects for discretionarytrusts, one of the three certainties required to form a trust. For a trust to be valid, "It is clear law that a trust (other than...
building and claims rent-a-room relief on the remainder) A charity or a discretionarytrust A divorced or separated person whose former spouse lives in the building...
In computer security, discretionary access control (DAC) is a type of access control defined by the Trusted Computer System Evaluation Criteria (TCSEC)...
Deed. In an Irrevocable Offshore Trust may not be changed or liquidated by the settlor. A Discretionary Offshore Trust enables the trustee to decide on...
bands were used was called a nil band discretionarytrust (now more properly known as NRB Relevant Property Trust*). This is an arrangement in both wills...
interests under a discretionarytrust. For the latter group of people, who may have highly restricted rights or know very little about trust terms, the Privy...
A Quistclose trust is a trust created where a creditor has lent money to a debtor for a particular purpose. If the debtor uses the money for any other...
their death it passes to others under the terms of the trust. a discretionarytrust where the trust fund is held by the trustees for the benefit of the injured...
trust and the type of property subject to the trust will vary depending on the purpose of the employee trust. Many employee trusts are discretionary trusts...