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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: A complex trust is a trust that is not defined as a simple trust or a grantor trust under the Internal Revenue Code. Q: What is a grantor trust? A: Grantor trust is a term used in the Internal Revenue Code to describe any trust over which the grantor or other owner retains the power to control or direct the trust's income or assets. If a grantor retains certain powers over or benefits in a trust, the income of the trust will be taxed to the grantor, rather than to the trust.