Business, Legal & Accounting Glossary
A form of trust, usually express, where there is some discretion to be exercised by the trustee(s) in the allocation of benefits of the trust. Unlike in a fixed trust, the beneficiaries of the discretionary trust have no identifiable equitable interest in the trust property until the discretion of the trustee is actually exercised.
See also: fixed trust, express trust, equitable interest (land and property).
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This glossary post was last updated: 5th April, 2020 | 0 Views.