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Discretionary trusts |
Also found in: Dictionary/thesaurus, Financial, Wikipedia | 0.03 sec. |
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DISCRETIONARY TRUSTS. Those which cannot be duly administered without the application of a certain degree of prudence and judgment; as when a fund is given to trustees to be distributed in certain charities to be selected by the trustees. |
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These rules do not apply to discretionary trusts not required to distribute either income or specific dollar amounts. |
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Discretionary trusts