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Simple English definitions for legal terms

discretionary trust

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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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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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