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The noun DISCRETIONARY TRUST has 1 sense: 1. a trust that gives the trustee discretion to pay the beneficiary as much of the trust income as the trustee believes appropriate. Familiarity information: DISCRETIONARY TRUST used as a noun is very rare.
A constructive trust is an equitable remedy resembling a trust (implied trust) imposed by a court to benefit a party that has been wrongfully deprived of its rights due to either a person obtaining or holding legal right to property which they should not possess due to unjust enrichment or interference.