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Definition of Discretionary trust
1. Noun. A trust that gives the trustee discretion to pay the beneficiary as much of the trust income as the trustee believes appropriate.
Lexicographical Neighbors of Discretionary Trust
Literary usage of Discretionary trust
Below you will find example usage of this term as found in modern and/or classical literature:
1. Key and Elphinstone's Compendium of Precedents in Conveyancing by Thomas Key, Howard Warburton Elphinstone (1899)
"discretionary trust for application of income after bankruptcy, fcc., of tenant
for life for the benefit of him and his family Provision .as to waste by ..."
2. Ruling Cases by Irving Browne, Leonard Augustus Jones, James Tower Keen, John Melville Gould (1901)
"[005] Settled Land. — Tenant for Life. — Persons having Powers of Tenant for Life.
— discretionary trust for Application of ..."
3. A Compendium of Precedents in Conveyancing: Comprising the Forms Required in by Thomas Key (1883)
"(g) For a discretionary trust for application of income after bankruptcy, lie., of
tenant for life, for benefit of him and his family, see p. ..."
4. Judicial and Statutory Definitions of Words and Phrases by West Publishing Company (1904)
"discretionary trust. A "discretionary trust" is when, by the terms of the trust,
no direction is given as to the manner in which the trust fund shall be ..."
5. The Law of Trusts in British India by William Fischer Agnew (1882)
"... Delegation authorized by author of trust — Representatives of surviving
trustee — Fraud by co-trustee—discretionary trust — Ministerial acts — Liability ..."
6. A Treatise on the Law of Trusts and Trustees by Jairus Ware Perry (1899)
"... or place is given to the trustee, or if he must use his best judgment in the
execution of the trust, it is a discretionary trust.3 Mr. Fearne contends ..."
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