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| dis·cre·tion·ar·y trust (plural dis·cre·tion·ar·y trusts) |
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1. trust in which trustees assign shares: a trust in which somebody other than its founder, e.g. a trustee, determines the beneficiaries' shares
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2. trust with trustee making decisions: a trust in which the trustee has full discretion to decide which beneficiaries will receive what parts of the trust when it is distributed
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