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Discretionary trust information


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.

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Discretionary trust

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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...

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Discretionary trusts and powers in English law

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Discretionary trusts and powers in English law are elements of the English law of trusts, specifically of express trusts. Express trusts are trusts expressly...

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Express trust

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date the disposition takes effect. Charitable trusts this is also a form of discretionary trust; trusts for a purpose (as opposed to for individuals)...

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Australian trust law

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trusts recognised and used in Australia, including unit trusts, discretionary trusts, hybrid trusts, and testamentary trusts. Under a discretionary trust...

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Protective trust

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trust. The establishment of this discretionary trust is ordinarily exempt from the charge to UK inheritance tax on the establishment of discretionary...

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Henson trust

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A Henson trust (sometimes called an absolute discretionary trust), in Canadian law, is a type of trust designed to benefit disabled persons. Specifically...

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Jho Low

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into Low's personal accounts. He is the beneficiary of numerous discretionary trust assets said by the US government to originate from payments out of...

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ENIC Group

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International Limited, while a discretionary trust of Lewis's family owns 70.12%. Previously a private investment trust, English National Investment Company...

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Accumulation and maintenance trust

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("A&M") trusts are a type of discretionary trust for the benefit of children and young people in England and Wales. The concept of an A&M trust emerged...

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Supplemental needs trust

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(OBRA-93), P.L. 103–66, it was possible to create a self-settled, discretionary trust for the benefit of the settlor and still allow the settlor to qualify...

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Special needs trust

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trustees to manage the trust assets and to deal with future replacement appointments. The use of a private discretionary trust can not only be more efficient...

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Family Trust

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Australia, a family trust refers to a type of discretionary trust, set up to manage the assets of a family or its business. Family trusts are vehicles for...

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Schmidt v Rosewood Trust Ltd

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v Rosewood Trust Ltd [2003] UKPC 26 is a judicial decision concerning the information rights of a beneficiary under a discretionary trust. Although the...

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Purpose trusts in English law

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seems to indicate that the test of certainty for Denley trusts is the same as for discretionary trusts. A second way of evading the rules is found in Re Tyler...

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Saunders v Vautier

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understood to require that a valid discretionary trust need to be able to draw up a complete list of the beneficiaries of the trust in order to be valid; subsequent...

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McPhail v Doulton

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objects for discretionary trusts, 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...

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Taxation in the Republic of Ireland

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building and claims rent-a-room relief on the remainder) A charity or a discretionary trust A divorced or separated person whose former spouse lives in the building...

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Discretionary access control

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In computer security, discretionary access control (DAC) is a type of access control defined by the Trusted Computer System Evaluation Criteria (TCSEC)...

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Offshore trust

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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...

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Inheritance tax in the United Kingdom

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bands were used was called a nil band discretionary trust (now more properly known as NRB Relevant Property Trust*). This is an arrangement in both wills...

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English trust law

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interests under a discretionary trust. For the latter group of people, who may have highly restricted rights or know very little about trust terms, the Privy...

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Quistclose trusts in English law

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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...

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Personal injury trust

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their death it passes to others under the terms of the trust. a discretionary trust where the trust fund is held by the trustees for the benefit of the injured...

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Employee trust

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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...

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Uniform Trust Code

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Modification and Termination of a Trust Creditor's Claim, Spendthrift and Discretionary Trusts Revocable Trusts Office of Trustee Duties and Powers...

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