Discretionary and Non-Discretionary Trusts are often created in Wills.
In a Discretionary Trust, the distribution of income and capital is made at the discretion of the Trustee.
In a Non-Discretionary Trust, often referred to as a “Bare Trust”, the Trustee has no discretion and must transfer to the beneficiary of the Trust, on demand, legal ownership of assets within the Trust.
If you establish a Discretionary Trust in your Will, it will be valid for a period of 80 years from the date of your death, which means that the Trust is capable of distributing income across multiple generations, protecting assets from marital disputes and creditors.
Contact our legal team today for a confidential discussion in regards to Testamentary Trusts.