This book is designed for use as a supplementary text for a course on wills and trusts and the primary text in a seminar or course exploring the law of trusts. Found insideNew essays by leading figures from the judiciary, practicing lawyers and academics illuminating the worlds of trusts and wealth management. Found inside – Page 132132 CHAPTER 7 DISCRETIONARY TRUSTS The individual interests of the objects ... There are two types of discretionary trusts - exhaustive and non-exhaustive. Found inside – Page 6In determining the certainty of objects for discretionary trusts two types of trust have evolved: those favouring a specific class of individuals (Burrough ... Found inside – Page 78Trust duties: Beneficiary: Beneficial enjoyment: Termination: ... These types of discretionary trusts may give rise to actions against the trustee based on ... Found insideTYPES. OF. FAMILY. TRUSTS. As explained inearlierchapters, insome family trusts ... A trustwith thatfeature is described asa non-discretionary trust or ... Brings Equity and Trusts to life for students of all abilities with clearly explained principles and simple, practical examples. Found inside – Page 827Self - Settled Spendthrift and Discretionary Trusts Part B. Termination ( or Modification ) by the Beneficiaries 1 . ... of current trust beneficiaries arises primarily in the context of three types of trusts : spendthrift , discretionary , and support . Found inside – Page 189There are two main types of trust that can be used : a discretionary trust and an interest - in - possession trust . In both cases it is advisable to have ... Found inside – Page 191sentative sample of all types of trust. The comparison with the estimate of discretionary trusts based on sample surveys of Inland Revenue administrative data, however, suggests that the trust departments of the clearing banks cover only a ... Found insideBut as far as putting your home in trust is concerned, you need only be concerned with three main types: Discretionary trust. Trustees of a discretionary ... Found inside – Page 731... definition 13; definition and types 12–13; examples and classification 386; ... (see also discretionary trusts); determining events, examples of 179–80; ... Found inside – Page 34Different types of trust There are many different types of trust . ... The discretionary trust This is a trust under which the trustees have discretion ... Found inside27.5.3 Discretionary trusts A discretionary trust can only arise where the ... 27.5.4 Types ofpowers Further consideration must begiven to the nature ofthe ... Found insideFigure 6.1 Classification of private trusts and types of discretions ... It may be recalled that there are two kinds of discretionary trusts: exhaustive and ... Found inside – Page 945The main types of trust are : - interest in possession trusts ; - discretionary trusts ; - accumulation and maintenance trusts ; - charitable trusts ... Found inside – Page 8Fixed trusts, discretionary trusts and protective trusts are types of express trust (see below). Resulting trusts Traditionally there are two kinds of ... This book offers expert guidance on how to bequeath your wealth as you want, whether by means of trusts or through a valid Will, in a tax-efficient manner: ● The various types of private and family trusts you can set up. ● Principles ... Found insideBy way of contrast, the settlor may create a 'trust power' or a 'power in the ... This type of discretion was introduced by the court in Brown v Higgs. Found inside – Page 262The act of putting an asset into a trust is known as making a settlement or settling ... Types. of. trust. 6.2.1 Discretionary trusts A discretionary trust ... Found inside – Page 92The choice is broadly between fixed trusts, discretionary trust powers, ... apply the test for certainty of beneficiaries appropriate to that type of power. Found inside – Page 159TYPES OF TRUSTS The following types of trusts will be reviewed for the purposes of advising the testator and drafting in this chapter: 0 discretionary trust ... Found inside – Page 84Trusts established for charitable purposes avoid the three types of charge payable by a discretionary trust. Other types of trust exist but these five cover ... Found inside – Page 110More recent estimates indicate a reversal in the relative popularity of different trust types, with the number of discretionary trusts increasing to an ... Found inside – Page 783A trust occurs when a person is given the possession and/or power over ... or by a businessperson. e type of trust normally used is a discretionary trust. e ... Found insideThis type of trust is often used to hold assets for young people until they are old enough to control them in their own right. • Discretionary trust. Found inside – Page 384Settlor created a valid inter vivos spendthrift trust. ... A trust containing this type of provision is called a discretionary trust. Found inside – Page 7typES. oF. truSt. Discretionary. trusts. 2.6 A discretionary trust gives the trustees discretion as to how to pay the income between a class of income ... Found inside – Page 12That Black's Law Dictionary lists over 160 different types of trusts is ... to and discuss all kinds of trusts, including bare trusts, discretionary trusts, ... Found inside – Page 136These two types of exempt trust are important forms of personal wealth ... Our estimate of the value of surviving spouse and discretionary trusts was formed ... Found inside – Page 591It is important to be alive to the different terminology used.183 (c) Types of discretionary trusts There are two types of discretionary trust: 'exhaustive' ... Found inside – Page 409150 death , a bypass trust can be designed to avoid unnecessary taxation of trust earnings to the beneficiary during life . ... 152 These types of discretionary trusts normally provide that the trustee is authorized to pay the life beneficiary such ... Found inside – Page 211TYPES OF DISCRETION 1 . Administration Discretion One type of discretion which is commonly given to a trustee is an administrative discretion as to how the trust is to be carried out . Thus , for example , wide powers may be conferred upon ... Found inside – Page 8Fixed trusts, discretionary trusts and protective trusts are types of express trust (see below). Resulting trusts Traditionally there are two kinds of ... Found insideA trust may also provide professional management and administration. ... This chapter considers six types of trusts: discretionary, incentive, total return, ... Found inside – Page 11Types. of. Trusts. One of the more common forms of trust used is a discretionary trust, which may be revocable or irrevocable. In its usual form, ... Found inside – Page 259Lifetime and Will Trusts Irrespective of the type of trust, whether discretionary or interest in possession, creation either during the settlor's lifetime ... Found insideUnit Trust) and there must be absolutely no discretion by the trustee to ... for discretionary trusts are different for unit trust and may other types of ... Found inside – Page 101Such powers in the form of a trust are known as ' discretionary trusts ' in the ... There is one principal distinction between mere powers and all forms of ... Found inside – Page 338The distinctive normative identity of the trust as an institutional type is also ... norms at least in cases where trustees exercise discretionary powers. This book discusses all aspects of setting up and running a family trust including the qualifications needed by trustees, the types of trusts available, the risks of borrowing by trustees, the rights of beneficiaries, and the protection of ... Found inside – Page 4012 With type B trusts there is no such beneficiary, e.g. an accumulation or discretionary trust, such as a trust to pay income or capital to such of Mr Smith ... In recent years there have been extensive statutory provisions in the area of trusts and change is still in the air. This book takes a practical look at the implications of these changes in the day-to-day administration of trusts. This book explains the facts and associated case law for: • The nature of a trust, the creation of express private trusts and purpose trusts • Constitution of trusts • Types of trust: secret, protective and discretionary, resulting ... Found insideAlthough there are many more types, the following are the more commonly used trusts. DISCRETIONARY TRUST Discretionary describes the ability to choose or ... Found inside – Page 11Examples of specific types of trusts include marital deduction trusts, ... trusts include charitable remainder trusts and discretionary trusts that do not ... The central purpose of this book is to provide a flexible and easy-to-use system for drafting discretionary testamentary trusts. Found insideAesop There are different types of express trusts. The focus of this chapter is on discretionary, unit and hybrid trusts. Found insideA trust has a similar legal status to a minor (not the Todd Russell and Brant Webb ... There are four main types of trusts: - discretionary (family) 0 fixed ... Found inside – Page 67Different types of trusts have different types of benefits. ... Discretionary trust: In this type of trust, the trustees have the power (the discretion) to ... Takes a practical look at the implications of these changes in the day-to-day administration of trusts and wealth.... 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