Reference Entry

discretionary trust

Edited by Jonathan Law

in A Dictionary of Accounting

Fifth edition

Published in print July 2016 | ISBN: 9780198743514
Published online November 2016 | e-ISBN: 9780191803147
discretionary trust

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1. A *trust in which the shares of each beneficiary are not fixed by the settlor in the trust deed but may be varied at the discretion of some person or persons (often the trustees). Such trusts may be particularly useful when the needs of the beneficiaries are likely to change, as in the case of children. Formerly, many discretionary trusts took the form of ...

Reference Entry.  180 words. 

Subjects: Accounting

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