Terminologia Offshore Comercial

Declaration of trust. A document creating a trust; a trust deed.

Discretionary trust. A grantor trust in which the trustee has complete discretion as to who among the class of beneficiaries receives income and/or principal distributions. There are no limits upon the trustee or it would cease to be a discretionary trust. The letter of wishes could provide some "guidance" to the trustee without having any legal and binding effects. Provides flexibility to the trustee and the utmost privacy.

Donor. A transferor. One who transfers title to an asset by gifting.