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Discretionary trust
(redirected from discretionary trusts)

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Discretionary trust
In the context of mutual funds, refers to a mutual fund or unit trust whose management decides on the best way to use the assets without restriction to a specific type of security.
In the context of trusts, refers to a personal trust in which a trustee has the power of decision as to how much income or principal each beneficiary receives.
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These rules do not apply to discretionary trusts not required to distribute either income or specific dollar amounts.
Final regs. define "income" under sec. 643 by Spoor, F. Gordon / The Tax Adviser
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