A discretionary trust is a trust in which the beneficiaries and their entitlements from the trust are determined by the settlor of the trust. This is distinguished from a standard trust, in which the beneficiaries and their payments from the trust are fixed. In a fixed trust, each beneficiary and what proceeds they will receive from the trust is pre-established, whereas in a discretionary trust, how these proceeds are distributed may be at the discretion of the trustees.
A highly complex legal environment surrounds discretionary trust law, so if you have any questions regarding a discretionary trust, seek the legal counsel of an experienced discretionary trust attorney to answer your questions and provide valuable legal input into your case.
If you are considering setting up a discretionary trust, or you are a beneficiary and aren’t sure what your rights are with respect to the trust, you should contact a discretionary trust attorney to make sure your rights and wishes are fully represented. Without proper legal guidance, it could cause your heirs headaches and cost them additional legal fees contesting and interpreting the trust. A local discretionary trust attorney will understand the complexity of the law and can make sure the document is drafted and filed correctly the first time. Contact an experienced discretionary trust attorney in your area today.
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