A discretionary trust is a trust where the beneficiaries and/or their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by trustor. Discretionary trusts can be discretionary in two respects. First, the trustees usually have the power to determine which beneficiaries (from within the class) will receive payments from the trust. Second, trustees can select the amount of trust property that the beneficiary receives. Although most discretionary trusts allow both types of discretion, either can be allowed on its own. It is permissible in most legal systems for a trust to have a fixed number of beneficiaries and for the trustees to have discretion as to how much each beneficiary receives.
Fulton Georgia Discretionary Distribution Trust for the Benefit of Trust or's Children with Discretionary Powers over Accumulation and Distribution of Principal and Income Separate Trust for each Beneficiary is a specialized legal arrangement designed to provide financial support and assets management for the children of the trust creator (trust or). This type of trust grants discretionary powers to the trustees regarding the accumulation and distribution of both principal and income, ensuring flexibility and control over financial resources for the beneficiaries. There can be different variations of the Fulton Georgia Discretionary Distribution Trust for the Benefit of Trust or's Children with Discretionary Powers over Accumulation and Distribution of Principal and Income Separate Trust for each Beneficiary, including: 1. Income-Only Discretionary Trust: This type of trust allows the trustees to distribute only the income generated by the trust's assets to the beneficiaries, while the principal remains intact. This ensures a consistent source of income for the children without depleting the trust's principal balance. 2. Accumulation and Distribution Trust: In this variant, the trustees have the discretion to accumulate both the income and principal generated by the trust's assets. The trustees can choose to distribute funds periodically or as needed, maintaining control over the accumulation and distribution process. 3. Durable Power of Attorney Trust: This version grants the trustees discretionary powers not only over the accumulation and distribution of principal and income but also includes durable power of attorney provisions. This means that the trustees can make financial decisions on behalf of the beneficiaries, ensuring comprehensive asset management and financial protection. 4. Age-Specific Discretionary Trusts: This type of trust establishes separate trusts for each beneficiary, where the trustees have discretionary powers to handle the accumulation and distribution of principal and income based on the individual needs and circumstances of each beneficiary. Specific age milestones or events can trigger changes in the trust's terms, ensuring appropriate asset management throughout the beneficiaries' lives. Overall, the Fulton Georgia Discretionary Distribution Trust for the Benefit of Trust or's Children with Discretionary Powers over Accumulation and Distribution of Principal and Income Separate Trust for each Beneficiary offers a robust legal framework to ensure financial security and prudent asset management for the trust or's children. It offers flexibility, control, and the ability to adapt to the unique needs of each beneficiary.Fulton Georgia Discretionary Distribution Trust for the Benefit of Trust or's Children with Discretionary Powers over Accumulation and Distribution of Principal and Income Separate Trust for each Beneficiary is a specialized legal arrangement designed to provide financial support and assets management for the children of the trust creator (trust or). This type of trust grants discretionary powers to the trustees regarding the accumulation and distribution of both principal and income, ensuring flexibility and control over financial resources for the beneficiaries. There can be different variations of the Fulton Georgia Discretionary Distribution Trust for the Benefit of Trust or's Children with Discretionary Powers over Accumulation and Distribution of Principal and Income Separate Trust for each Beneficiary, including: 1. Income-Only Discretionary Trust: This type of trust allows the trustees to distribute only the income generated by the trust's assets to the beneficiaries, while the principal remains intact. This ensures a consistent source of income for the children without depleting the trust's principal balance. 2. Accumulation and Distribution Trust: In this variant, the trustees have the discretion to accumulate both the income and principal generated by the trust's assets. The trustees can choose to distribute funds periodically or as needed, maintaining control over the accumulation and distribution process. 3. Durable Power of Attorney Trust: This version grants the trustees discretionary powers not only over the accumulation and distribution of principal and income but also includes durable power of attorney provisions. This means that the trustees can make financial decisions on behalf of the beneficiaries, ensuring comprehensive asset management and financial protection. 4. Age-Specific Discretionary Trusts: This type of trust establishes separate trusts for each beneficiary, where the trustees have discretionary powers to handle the accumulation and distribution of principal and income based on the individual needs and circumstances of each beneficiary. Specific age milestones or events can trigger changes in the trust's terms, ensuring appropriate asset management throughout the beneficiaries' lives. Overall, the Fulton Georgia Discretionary Distribution Trust for the Benefit of Trust or's Children with Discretionary Powers over Accumulation and Distribution of Principal and Income Separate Trust for each Beneficiary offers a robust legal framework to ensure financial security and prudent asset management for the trust or's children. It offers flexibility, control, and the ability to adapt to the unique needs of each beneficiary.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
