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What is a Testamentary discretionary trust?

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9th Dec 2009 by Gary

A Testamentary discretionary trust is one created under the specific instructions from the trustor (deceased). It is managed by an executor until the beneficiary is able to do it on their own. A discretionary beneficiary is allowed to apply for the distribution of funds, but they don't have to be legally granted by the trustees.

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4th Dec 2009 In Legal 1 Answers | 654 Views
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