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Simple English definitions for legal terms

discretionary trust

Read a random definition: inherent covenant

A quick definition of discretionary trust:

A discretionary trust is a type of trust where the person in charge (called the trustee) can decide how much money or property to give to the person who will benefit (called the beneficiary). The beneficiary doesn't actually own anything in the trust, so nobody can take it away from them. This means that the trustee has complete control over the money or property in the trust, and the beneficiary can only hope to receive some of it.

A more thorough explanation:

A discretionary trust is a type of trust where the trustee has the power to decide how much of the trust's income and assets should be given to the beneficiary. The beneficiary does not have a guaranteed right to receive any specific amount of money or property from the trust.

Let's say that John sets up a discretionary trust for his daughter, Jane. John names his sister, Sarah, as the trustee of the trust. The trust document states that Sarah has the power to decide how much of the trust's income and assets should be given to Jane. Jane does not have a guaranteed right to receive any specific amount of money or property from the trust.

Another example could be a wealthy individual setting up a discretionary trust for their grandchildren. The trustee would have the power to decide how much money or property should be given to each grandchild, and the grandchildren would not have a guaranteed right to receive any specific amount.

These examples illustrate how a discretionary trust works by giving the trustee the power to make decisions about how much money or property should be given to the beneficiary. The beneficiary does not have a guaranteed right to receive any specific amount, which means that the trust assets are protected from creditors and cannot be voluntarily transferred.

discretionary power of appointment | discrimination

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babycat
18:34
let’s bring that on here. can I start ranking you guys? bulbasaur is on top cuz he has a wife and none of the rest of you pull like that
they get you in with telling you to value yourself then they start making you feel like all relationships are transactional
and that’s what’s bad for your mental health
i'm here for the ranking baby cat
JumpySubsequentDolphin
18:36
is anyone here very into skincare
windyMagician
18:36
i just feel like i always get treated like junk by guys so i'd like to change that :<
babycat
18:36
I don’t know how the ranking works can someone tell me. Is it like alpha, sigma, beta? Or numerical? Trying to get started ASAP
18:36
@windyMagician: i have a mini long island accent lol
18:37
not super strong tho
Dkk
18:37
@babycat: https://tiermaker.com/
windyMagician
18:37
like i was with my ex for 2 years, moved to Alaska for him, and he broke up with me over text the weekend before the election
i sound like tony soprano when i'm emotional it's so bad
windyMagician
18:37
eggan and jack are s tier bc of their accent
@babycat: I guess more binary than ranking. It’s like high value man, low value man, and there’s some other stuff
@windyMagician: can you talk about it in therapy? i had a problem with only going after people who treated me poorly and therapy helped me work that out
i could see why FDS would be attractive but i was in to manosphere stuff like 10 years ago and its just soooooo bad for your mental health
will 100% poison all your personal relationships
And that stuff fucks with the way you see the world in general
windyMagician
18:39
therapy is a good idea
babycat
18:40
@jackfrost11770: you sound like tony soprano? I need you
18:42
thank you windy... also wtf is fds
18:43
oh female dating strategy reddit lmao terrible. i imaging it festering with femcels
my first language isn't english but i am from here but sometimes ppl tell me i also have a russian accent which is so funny lol
all of my accents are just mob/mafia core
JumpySubsequentDolphin
18:44
i want a man w a transatlantic accent how do i make that work
Dkk
18:45
@jackfrost11770: same about that Russian accent thing.
windyMagician
18:45
when he says "i'm a new yorker" in the accent...
DK ARE YOU RUSSIAN
babycat
18:45
@jackfrost11770: come with me and renard to the nyu info session. lsd harem
when is that
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