discretionary trust


noun
  1. a trust in which the beneficiaries' shares are not fixed in the trust deed but are left to the discretion of other persons, often the trustees

Words Nearby discretionary trust

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012