Discretionary trust

World English Dictionary
discretionary trust
 
n
a trust in which the beneficiaries' shares are not fixed in the trust deed but are left to the discretion of other persons, often the trustees

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WordNet
discretionary trust

noun
a trust that gives the trustee discretion to pay the beneficiary as much of the trust income as the trustee believes appropriate 
WordNet® 3.0, © 2006 by Princeton University.
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00:10
Discretionary trust is always a great word to know.
So is ort. Does it mean:
a fool or simpleton; ninny.
a scrap or morsel of food left at a meal.
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