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Discretionary
Under a discretionary trust (also known as a flexible trust), the trustees decide who from a group of beneficiaries receives what and when. No-one is therefore entitled to anything from the trust without the trustees’ agreement.
You can create a discretionary trust during your lifetime or by will.
Enormous trust is placed in the trustees and the right choice of person as trustee is essential. You might want to consider appointing an independent professional who is not influenced by family issues and who will comply with your objectives for the trust.
It is important to consider all of the legal, practical and tax implications before creating a trust. At Hart Brown our experienced team will guide you through the implications and help you set up a trust that best suits your objectives. We can also act as trustees of the trust.
To speak to someone who can advise on a discretionary trust or any other type of trust call, email or request a call back from one of our specialist lawyers.
Useful links
Discretionary Trusts - Case Study
Discretionary Trust Inheritance - Case Study
Lifetime discretionary trusts- Case Study
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