Need help setting up a trust? We've got you covered with range of tips for both discretionary and unit trusts.

What is a discretionary trust?

A discretionary trust (also known as a Family Trust) is where the entitlements and trust property is not fixed to each beneficiary. In a discretionary trust, it is up to the trustee to decide the upon the portions of the trust property that each beneficiary receives.

In a discretionary trust you must have:

  • A trustee
  • A settlor
  • Beneficiaries
  • Having an appointor is optional

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Updated — Jun 4, 2018

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