Discretionary beneficiaries definition

Discretionary beneficiaries means persons belonging to the category of beneficiaries specified by the donor, founder or trustor and whose possible beneficial interest is placed within the discretion of the foundation board, board of directors or trustee or another body appointed for the purpose. This shall also include persons whose beneficial interest is placed within the discretion of the foun- dation board, board of directors or trustee or another body appoint- ed for that purpose, exclusively in terms of amount or time;15
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Discretionary beneficiaries means the persons and entitles described as such in Part 6 of the Schedule;
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Discretionary beneficiaries. , where Part 4A applies, means:-
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Examples of Discretionary beneficiaries in a sentence

  • I/We declare that the following are to be the Discretionary beneficiaries for the purpose of this trust.

  • Discretionary beneficiaries of the trust include Dr. Stanley Ho, Madam Lucina Laam King Ying, Mr. Lawrence Ho and members of the Ho family.The Directors have considered other fund raising methods, but have concluded that, given the interests of investors and current market conditions, the Placing and Subscription is the most appropriate method to raise funds for the purpose described in section B above under the heading “Use of Proceeds”.

  • Great Respect is a company controlled by a discretionary family trust of Dr. Stanley Ho. Discretionary beneficiaries of the trust are members of Dr. Stanley Ho’s family including Dr. Stanley Ho, Mr. Lawrence Ho and Madam Lucina Laam King Ying.

  • Discretionary beneficiaries who do not receive distributions do not have to be disclosed.

  • Discretionary beneficiaries: persons to whom the appointor may appoint benefits.

  • Discretionary beneficiaries will only be Controlling Persons, in the years when they receive a distribution from the trust, and the trustees will report the value of distributions made to reportable persons.

  • Discretionary beneficiaries of trusts that are Financial Institutions are treated as Account Holders if they have received a discretionary distribution from the trust in the reportable period.

  • With the new charges, revenue for the period 1 October 2007 to 31 March 2008 is expected to increase by 27% to £175m, so that forecast recovered revenue for Formula Year 2007/8 is£285m (£110m plus £175m).

  • Discretionary beneficiaries who do not receive a payment thus do not need to be reported (the same argument applies to contingent beneficiaries).Where a trust has no US specified persons, some Model 1 jurisdictions, most notably the UK, require a nil return, but most do not.

  • Similarly there was a distinction between reducing the amount of tax from what it would have been had the transaction not been entered into and reducing the amount of tax from what it ought to have been in the tax year under consideration’In Lord Vestey’s Executors v IRC25-United Kingdom (UK) case- Discretionary beneficiaries resident in the UK- The trust accumulated income –payments to the beneficiaries.


More Definitions of Discretionary beneficiaries

Discretionary beneficiaries means:- (a) any widow or widower of the Settlor(b) the children and remoter issue of the Settlor whenever born(c) every spouse former spouse widow or widower of any such child or remoter issue(d) the brothers and sisters of the Settlor and their issue(e) any one or more persons beneficially entitled under the Will (or any codicil thereto) of the Settlor or who would be entitled to an interest in the Settlor’s estate if the Settlor had died intestate(f) any person (other than the Settlor) nominated in writing to the Trustees by the Settlor as a Discretionary Beneficiary(g) the Default Beneficiaries (as hereinafter defined)(h) the Settlor’s spouse (but only ifthe Settlor has initialled this box) INITIALS (i) of and of (hereinafter called the “Original Trustees”) of the second part (j) any charity
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Discretionary beneficiaries means:- (a) any widow or widower of the Settlor(b) the children and remoter issue of the Settlor whenever born(c) every spouse former spouse widow or widower of any such child or remoter issue(d) the brothers and sisters of the Settlor (or either of them) and their issue(e) any one or more persons beneficially entitled under the Will (or any codicil thereto) of the Settlor or who would be entitled to an interest in the Settlor’s estate if the Settlor had died intestate and where the Settlor is two persons this provision shall operate with like effect on the death of each of those persons
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Related to Discretionary beneficiaries

  • Pecuniary benefit means benefit in the form of money, property, commercial interests or anything else the primary significance of which is economic gain. Expenses associated with social occasions afforded public servants shall not be deemed a pecuniary benefit.

  • Beneficiaries means any Person to whom the Issuer is or hereafter becomes indebted or liable.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Eligible Participants means persons who, at a particular time, are employees, officers, consultants, or directors of the Company or its subsidiaries;

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Spouse means, an individual who,

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.