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  • Axa Isle Of Man Discretionary Trust Settlor Cannot Be A ... - Axa Wealth - Axawealth Co

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AXA Isle of Man Limited Discretionary Trust Settlor cannot be a Beneficiary Please note AXA Isle of Man Limited markets its products under the AXA Wealth International (AWI) brand. Please ensure that.

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Discretionary Trusts are commonly set up to put assets aside for children and/or grandchildren for a future financial need or as a protective measure for a vulnerable family member who may be unable to manage their own finances.

The death of the settlor will mean that the settlor's rights terminate and the trust fund is available to the other beneficiaries. Remember that the settlor's rights under a DGT have no value in the event of his death. The only IHT implications will be if the death occurs within 7 years of the original gift.

In general, to benefit from all the advantages that trusts can give, the settlor, the trustee and the beneficiary are usually different people or groups of people. But they don't have to be. A settlor or trustee can also be a beneficiary of same trust.

There is no public register of trusts in the Isle of Man. The ownership of trust assets can remain entirely confidential in most circumstances.

The drawbacks of discretionary trusts Because trustees of a discretionary trust can choose which beneficiaries receive the trust assets, it is possible for them to decide that one or more beneficiaries should receive nothing.

Discretionary trusts can be very useful in a number of circumstances. They can be tailored to suit the needs of you and your family, and benefit your estate as a whole. They are valuable as a way to protect assets for beneficiaries who don't have the ability to manage their own funds.

Discretionary trust The trustees have complete control over the assets and the income they generate, deciding how and when to give them to the beneficiaries.

Disadvantages and problems with discretionary trusts – Complexity. Setting up and maintaining a solid discretionary trust structure can be complicated. – Potential loss. Only profits are distributed – losses remain as such. – Trust.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232