Thursday, July 16, 2015

SC – Interpret Discretionary Trust

The Supreme Court has decided that the trusts were discretionary and not specific. If the terms of the deeds left discretion to the trustees to disburse benefits to the beneficiaries. A ‘discretionary trust’ is one which gives beneficiary no right to any part of the income of the trust property, but vests it in the trustees. The beneficiary has no more than a hope that the discretion will be exercised in his favour.

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