“Professor Lionel Smith, writing in these pages, described ‘massively discretionary trusts’ as trusts where the trustees’ dispositive discretions are as wide as possible. The result is that these discretions do not merely qualify the beneficial interests, but effectively displaces them. There is little or nothing to guide the trustee in the exercise of these powers. Professor Smith describes massively discretionary trusts as a deformation of the trust concept. He says that such trusts are a device in which beneficiaries have no significant rights or there are no real beneficiaries at all …” (more)
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David Russell and Toby Graham, ‘The limits of discretionary trusts: have powers of addition and removal been taken a step too far?’ Trusts and Trustees, https://doi.org/10.1093/tandt/ttab039. Published: 25 June 2021.
First posted 2021-06-30 12:00:10
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