Discretionary Trusts definition

Discretionary Trusts means, in relation to any sum directed to be held on such trusts in respect of a deceased individual, the trusts, powers and provisions set out below:
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Discretionary Trusts means the trusts upon which certain sums arising on the death of an individual must be held by the Trustee, the terms of such trusts being as follows:-
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Discretionary Trusts means the trusts set out in rule 10.5.
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Examples of Discretionary Trusts in a sentence

  • Halbach, Jr., Problems of Discretion in Discretionary Trusts, 61 COLUM.

  • SHAPO, GEORGE GLEASON BOGERT, & GEORGE TAYLOR BOGERT, BOGERT: THE LAW OF TRUSTS AND TRUSTEES § 228 (2016); Alan Newman, Spendthrift and Discretionary Trusts: Alive and Well Under the Uniform Trust Code, 40 REAL PROP.

  • Discretionary Trusts It is generally accepted that the situation is different in the case of a Discretionary Trust.

  • Discretionary Trusts Recall that: discretionary trust = S trusts to T, with discretion to appoint to B (e.g. protective or ‘spendthrift’ trust, where S wishes to settle for B without allowing B the power to vary the trust).

  • Halbach Jr., Problems of Discretion in Discretionary Trusts, 61 COLUM.

  • Those receiving Discretionary Trusts and Power of Attorney Services are not impacted.

  • Among the provisions of the Uniform Trust Code (―UTC‖ or the ―Code‖) that have attracted the most attention1 are those of Article 5: Creditor‘s Claims; Spendthrift and Discretionary Trusts.

  • Reciprocal Discretionary Trusts created by spouses or civil partners You should be aware that if spouses/civil partners each effect reciprocal Discretionary Loan Trusts, HMRC could view the arrangements as ineffective for IHT purposes if deemed an ‘associated operation’ creating ‘gifts with reservation of benefit’.

  • Halbach, Jr.,Problems of Discretion in Discretionary Trusts, 61 COLUM.

  • Except in those cases where the law of the home jurisdiction imposing the tax effectively dictated otherwise, the trust usually took a discretionary form (see Discretionary Trusts above).


More Definitions of Discretionary Trusts

Discretionary Trusts means the trusts set out in Rule 9.4. "Drawdown Option" is defined in Rule 5.8(1).
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Related to Discretionary Trusts

  • Discretionary Sale The meaning specified in Section 2.14(c).

  • discretionary use means the use of land or a building provided for in this Bylaw for which a development permit may be issued upon an application having been made;

  • Administrator/Benchmark Event means, in respect of any Series of Preference Shares and an Index, any authorisation, registration, recognition, endorsement, equivalence decision, approval or inclusion in any official register in respect of the Index or the administrator of the Index or the Index Sponsor has not been, or will not be, obtained or has been, or will be, rejected, refused, suspended or withdrawn by the relevant competent authority or other relevant official body, in each case as required under any applicable law or regulation in order for the Company, the Calculation Agent or any other entity to performits or their respective obligations in respect of the Preference Shares or any Related Financial Product, all as determined by the Calculation Agent;

  • Academy Trust shall include any company in which the Academy Trust: • holds more than 50% of the shares; or • controls more than 50% of the voting rights attached to the shares; or • has the right to appoint one or more directors to the board of the company.

  • Family Trusts means, with respect to any individual, trusts or other estate planning vehicles established for the benefit of Family Members of such individual and in respect of which such individual serves as trustee or in a similar capacity.

  • Portfolio Administrator means any entity and any successor or replacement thereto, as specified in the Final Terms for each Series of ETP Securities, appointed as Portfolio Administrator in accordance with the terms of the relevant Portfolio Administration Agreement.

  • Extraordinary Trust Fund Expenses Any amounts reimbursable to the Master Servicer or the Depositor pursuant to Section 6.03, any amounts payable from the Distribution Account in respect of taxes pursuant to Section 10.01(g)(iii), any amounts reimbursable to the Trustee, the Trust Administrator, Citibank or a Custodian from the Trust Fund pursuant to Section 2.01 or Section 8.05 and any other costs, expenses, liabilities and losses borne by the Trust Fund (exclusive of any cost, expense, liability or loss that is specific to a particular Mortgage Loan or REO Property and is taken into account in calculating a Realized Loss in respect thereof) for which the Trust Fund has not and, in the reasonable good faith judgment of the Trust Administrator, shall not, obtain reimbursement or indemnification from any other Person.

  • Extraordinary Trust Fund Expense Any amounts reimbursable to the Trustee, or any director, officer, employee or agent of the Trustee, from the Trust Fund pursuant to Section 8.05, any amounts payable from the Distribution Account in respect of taxes pursuant to Section 10.01(g)(iii) and any amounts payable by the Trustee for the recording of the assignments of mortgage pursuant to Section 2.01.

  • charity trustee means a charity trustee of the CIO.

  • Successor Property Trustee has the meaning specified in Section 6.6(b).

  • Administrator/Benchmark Event means, in relation to any Benchmark, the occurrence of a Benchmark Modification or Cessation Event, a Non-Approval Event, a Rejection Event or a Suspension/Withdrawal Event all as determined by the Issuer.

  • unit trust means any trust established for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property.

  • the Academy Trust means the company intended to be regulated by these Articles and referred to in Article 2;

  • Additional Trust Fund Expense Any expense of the Trust Fund that (i) arises out of a default on a Mortgage Loan or a Serviced Pari Passu Companion Loan or an otherwise unanticipated event, (ii) is not included in the calculation of a Realized Loss, (iii) is not covered by a Servicing Advance or a corresponding collection from the related Borrower, and (iv) is not covered by Default Charges collected on the Mortgage Loans to the extent provided herein.

  • Property Trustee means the Person identified as the “Property Trustee” in the Trust Agreement, solely in its capacity as Property Trustee of the Trust under the Trust Agreement and not in its individual capacity, or its successor in interest in such capacity, or any successor Property Trustee appointed as therein provided.

  • or "INSTITUTIONAL TRUSTEE means the Trustee;

  • Property Trustee Account has the meaning set forth in Section 3.8(c).

  • Additional Trust Fund Expenses (i) Special Servicing Fees, Workout Fees and Liquidation Fees, (ii) interest in respect of unreimbursed Advances, (iii) the cost of various default-related or unanticipated Opinions of Counsel required or permitted to be obtained in connection with the servicing of the Mortgage Loans and the administration of the Trust Fund, (iv) unanticipated, non-Mortgage Loan specific expenses of the Trust Fund, including indemnities and expense reimbursements to the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer and the Depositor and federal, state and local taxes, and tax-related expenses, specifically payable out of the Trust Fund, (v) any fees or expenses that are expressly designated as an Additional Trust Fund Expense pursuant to any provision of this Agreement and (vi) any other default-related or unanticipated expense of the Trust Fund that is not covered by a Property Advance and for which there is no corresponding collection from a Mortgagor.

  • Successor Institutional Trustee has the meaning set forth in Section 4.3(a).

  • Managing Owner as used only in this Section 4.7 shall include, in addition to the Managing Owner, any other Covered Person performing services on behalf of the Trust and acting within the scope of the Managing Owner’s authority as set forth in this Trust Agreement.

  • Administrative Trustee means each of the Persons identified as an “Administrative Trustee” in the preamble to this Trust Agreement, solely in each such Person’s capacity as Administrative Trustee of the Trust and not in such Person’s individual capacity, or any successor Administrative Trustee appointed as herein provided.

  • Discretionary Assets means (i) securities that, if distributed, would be required to be registered under the Securities Act of 1933, as amended; (ii) securities issued by entities in countries that (A) restrict or prohibit the holding of securities by non-nationals other than through qualified investment vehicles, or (B) permit transfers of ownership of securities to be effected only by transactions conducted on a local stock exchange; and (iii) any assets that, although they may be liquid and marketable, must be traded through the marketplace or with the counterparty to the transaction in order to effect a change in beneficial ownership."

  • Investment Committee means the committee in charge of investment aspects of the Plan, as described in Article VII.

  • Discretionary Portfolio Manager means a Portfolio Manager who exercises or may, under a contract relating to portfolio management, exercise any degree of discretion as to the investments or management of the portfolio of securities or the funds of the Client, as the case may be.

  • Independent Director/Trustee means any; (i) director or trustee of an Invesco Mutual Fund who is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act) of an Invesco Mutual Fund; (ii) director or trustee of an Invesco ETP who is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act) of an Invesco ETP; or (iii) member of the Invesco Canada Independent Review Committee, Invesco Canada Funds Advisory Board or Board of Directors of Invesco Corporate Class Inc. who has no other executive responsibilities or engagement in an Invesco Canada Fund or Invesco NA’s day-to-day activities beyond the scope of their duties as director/trustee.

  • Statutory Trust Act means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq., as the same may be amended from time to time.