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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.
The difference is that with an offshore trust, also called a foreign trust, the trustee is a financial institution that is not in the same country as the settlor â a foreign country, a foreign trust.A number of these foreign countries are offshore, hence the use of the term âoffshore trust.â.ne of the main uses of a foreign trust is to avoid unnecessary taxation by your home country. Who, believe it or not, want to tax you to death. Weâll look at what certain key countries are doing to try to curb the use of offshore trusts, what it means to you, and how you will still benefit from an offshore trust.