A Discretionary Trust allows you as the Settlor, to put some or all of your assets into a trust, normally property but can also be cash assets.
The trust is then looked after by trustees (the settlor can also be a trustee) chosen by the settlor and the trust assets (capital or income) can then be distributed to all or any of your beneficiaries by your appointed Trustees when they feel it is appropriate.
You can write a Letter of Wishes to work alongside your discretionary trust to give the trustees direction on what you want to make sure happens and how you would like to distribute any capital or income from the trust.
A Discretionary Trust can be set up in your lifetime or via your will (will trust) after your death and If you want to establish a trust to enable you to pass assets to children or grandchildren yet retain control over the funds you gift, then a Discretionary Trust may be an appropriate solution for you.
With so many different types of trusts in existence, it can be difficult to decide if a trust is the best option for you and your family, or more importantly, which trust would work for you and your requirements.
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Our specialist team of Wills and Trusts Experts will use their expertise to ensure you are fully advised of the implications and your wishes are carried out.
If you would like to speak to one of our experts about Discretionary Trusts, ring us on 01603 927273 or email us at email@example.com