What is a Discretionary Trust?
A “discretionary trust” gives the trustee discretion over how, when, and if the beneficiaries may access trust assets. Certain uses of the money might be deemed acceptable, whereas other uses will be restricted. For instance, the trustee might distribute funds if your daughter wants to go to college, or your son wants to start a business. But if your child (or other beneficiary) has creditor problems or is faced with a divorcing spouse, the trustee can stop making distributio