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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.
o Flexible and easy distribution of trust income and capital. Steps to setting up a Discretionary Trusts. With the help of LawPath the following steps will be taken to create your discretionary trust. a) Trustee Selection. The trustee (a person or legal entity) is the legal owner of the trust property. Although not having beneficial interest, the main obligation of the trustee is to manage the discretionary trust in accordance with the terms.