Hello!
What actually makes a will a discretionary trust? What are the key elements it must contain in order to be treated as such?
My partner was appointed sole executor and trustee of his mother’s will.
The document names the beneficiaries and identifies the assets to be inherited (cash and bank accounts, no property).
One clause adds: ‘I give devise and bequeath to my trustee…’.
I know it is difficult to say for certain without seeing the document, but does it sound like a discretionary will?
Thank you!
Hi – and great question! The phrase you have quoted doesn’t suggest necessarily that there is a discretionary trust (DT). What that will depend on is what followed – ie were the gifts to be bequeathed made absolute/unconditionally, or otherwise. Thanks so much for visiting QLAW!
