George Washington set a lot of precedent's while he was in office. For example; in 1796, he published his Farewell Address. In it, he announced that he retired. Washington a â¦ lso set another important precedent at the end of his second term in 1796.
What Is a Trust Statement? Trusts are an important part of an estate planning process, and can save a grantor and his beneficiaries valuable time and money. When the grantor of an estate dies, the responsibility of managing the trust and distributing funds to beneficiaries falls to the estate trustee.
Discretionary (Family) Trusts What is a Discretionary Trust? A trust is a relationship where a person (called the trustee) is under an obligation to hold property for the benefit of another person (the beneficiaries). In a discretionary trust (sometimes called a âfamily trustâ), the trustee has the power to determine which beneficiaries receive the property or assets from the trust and how much each is to receive. The discretionary power of the trustee is limited to a nominated class of beneficiaries that are outlined in the trust.