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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.
In the discretionary trust, the income and the capital interests of a beneficiary are contingent on the discretion of the trustees to allocate income or capital to the beneficiary. Thus, the principal can maintain control over the underlying shares held by the trust and the income attributable to it.