What is a Specified Beneficiary and why do we have to include one on a discretionary trust order form?

A Specified Beneficiary the party referred to in the Schedule on the trust under the heading “Specified Beneficiary. € A party/parties is nominated at the time of set up of a trust to determine whom any income can be distributed to from the trust. The Specified Beneficiary includes, spouse, parents, children, entities, etc. related to the Specified Beneficiaries nominated.

Including any companies related to the “Specified Beneficiaries” i.e. Companies where the “Specified Beneficiaries” are directors or shareholders. More.

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