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Recently learned I am beneficary of a discretionary trustee will with solicitors acting as trustees keen to learn just what powersinfluence they will have on how when and what monies they can releas?
Wiki User
∙ 15y ago
The trust instrument should contain the provisions indicating the standard the trustees must follow for distributions. Typically, though, distributions are at the discretion of the trustee.
Wiki User
∙ 15y ago
As a beneficiary of a discretionary trust, the solicitors acting as trustees will have the power to make decisions on whether, when, and how to distribute the trust funds to the beneficiaries. Their decisions will be based on the terms outlined in the trust deed, which will detail the criteria for distributions and the beneficiaries' interests. It is advisable to review the trust deed and consult with the trustees or legal counsel to understand how the trust will operate.
Anonymous
This why their is a problem with the grantor leaving a institution or attorney's as trustee they have their own interest at heart no matter the current law. The laws should change to where all beneficary's should know about the trust and what a trust instrument states. To many money hungry attorney's, judges and institutions.
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