Meaning of DISCRETIONARY TRUST in English

DISCRETIONARY TRUST

A trust (revocable or irrevocable) where a number of potential beneficiaries (referred to as a "class") are named but not given a defined interest in the trust. The Trustees are given 'discretion' to decide which members of the class of beneficiaries will benefit from the trust.

UNODC Money-Laundering terms English dictionary.      Английский словарь терминов управления ООН по отмыванию денег, преступности и наркотикам.