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
- Having an appointor is optional
All information provided on this webpage is general information about our products and services. Nothing on this webpage is intended to be professional advice of any kind and should not be relied on as such. You should obtain specific financial, legal or other professional advice before relying on the content of this webpage. By not seeking such advice, you accept the risk that the information on this webpage may not meet the specific needs of your business. Our liability is limited to the maximum extent permitted by applicable law in accordance with our website terms and conditions.
Updated — Jun 4, 2018