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Discretionary Trust Fund

gaillimheach · 2011-03-03 20:23:06

I'm not seeking LEGAL advice, but some little clarification: Roughly speaking, what is a "Discretionary Trust" and how might one set one up? I am thinking of setting up a trust fund for the benefit of one of my adult children, who has a disability, to be administered jointly by myself and others. Can anyone tell me -…

03-03-2011 8:23pm

#1

gaillimheach

Registered Users, Registered Users 2 Posts: 114 ✭✭

Join Date: July 2008

Posts: 86

I'm not seeking LEGAL advice, but some little clarification:

Roughly speaking, what is a "Discretionary Trust" and how might one set one up?

I am thinking of setting up a trust fund for the benefit of one of my adult children, who has a disability, to be administered jointly by myself and others.

Can anyone tell me - rougly speaking - what the procedure is for setting up a trust fund?

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Comments

#2 03-03-2011 9:48pm

dermot_sheehan

Closed Accounts Posts: 2,062 ✭✭✭

Join Date: April 2004

Posts: 2023

There are major tax implications for this (there's actually a special discretionary trust tax)

You need to talk to professionals.

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