Glossary - Discretionary trusts
Description
Discretionary trusts are trusts in which trustees have the power to decide how and when income or capital is distributed among a class of beneficiaries. They offer flexibility and control, making them a common tool in estate planning where circumstances or beneficiary needs may change over time.
Alternate Names
- Trustees
- Beneficiaries
- Settlor
- Periodic charge
- Exit charge
- Trust deed
