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.
Travis Texas 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 type of trust that provides extensive flexibility and control over the distribution of assets and income for the benefit of the trust or's children. This trust allows for the trust or to designate separate trusts for each beneficiary, ensuring that each child's interests are handled individually. The Travis Texas 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 can be further categorized into different types, depending on the specific needs and preferences of the trust or. Some possible variations may include: 1. Travis Texas Discretionary Distribution Trust — This type of trust gives the trustee full discretion over the distribution of both income and principal to the beneficiaries. The trustee has the authority to decide when and how much to distribute based on the beneficiaries' needs and circumstances. 2. Travis Texas Accumulation Trust — In an accumulation trust, the trustee has the power to accumulate and reinvest both the income and principal generated by the trust assets. This allows for potential growth and increased wealth over time while still maintaining discretionary powers over distributions. 3. Travis Texas Distribution Trust — Unlike an accumulation trust, a distribution trust allows the trustee to distribute both income and principal to the beneficiaries as needed or desired. The trustee has the authority to determine the timing and amount of distributions, ensuring flexibility in meeting the beneficiaries' financial requirements. 4. Travis Texas Principal Trust — This type of trust focuses primarily on the distribution of the principal rather than income. The trustee has discretionary powers over the timing and amount of principal distributions, providing the beneficiaries with access to the trust's assets according to their specific needs or goals. It is important to note that these variations are not exhaustive, and the specific terms and provisions of the trust can vary based on individual circumstances and the preferences of the trust or. Consulting with a legal professional experienced in trust planning is highly recommended ensuring the creation of a trust that aligns with the trust or's intentions while meeting all legal requirements.Travis Texas 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 type of trust that provides extensive flexibility and control over the distribution of assets and income for the benefit of the trust or's children. This trust allows for the trust or to designate separate trusts for each beneficiary, ensuring that each child's interests are handled individually. The Travis Texas 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 can be further categorized into different types, depending on the specific needs and preferences of the trust or. Some possible variations may include: 1. Travis Texas Discretionary Distribution Trust — This type of trust gives the trustee full discretion over the distribution of both income and principal to the beneficiaries. The trustee has the authority to decide when and how much to distribute based on the beneficiaries' needs and circumstances. 2. Travis Texas Accumulation Trust — In an accumulation trust, the trustee has the power to accumulate and reinvest both the income and principal generated by the trust assets. This allows for potential growth and increased wealth over time while still maintaining discretionary powers over distributions. 3. Travis Texas Distribution Trust — Unlike an accumulation trust, a distribution trust allows the trustee to distribute both income and principal to the beneficiaries as needed or desired. The trustee has the authority to determine the timing and amount of distributions, ensuring flexibility in meeting the beneficiaries' financial requirements. 4. Travis Texas Principal Trust — This type of trust focuses primarily on the distribution of the principal rather than income. The trustee has discretionary powers over the timing and amount of principal distributions, providing the beneficiaries with access to the trust's assets according to their specific needs or goals. It is important to note that these variations are not exhaustive, and the specific terms and provisions of the trust can vary based on individual circumstances and the preferences of the trust or. Consulting with a legal professional experienced in trust planning is highly recommended ensuring the creation of a trust that aligns with the trust or's intentions while meeting all legal requirements.
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.
