A discretionary trust is a trust where the beneficiaries and/or their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by trustor. Discretionary trusts can be discretionary in two respects. First, the trustees usually have the power to determine which beneficiaries (from within the class) will receive payments from the trust. Second, trustees can select the amount of trust property that the beneficiary receives. Although most discretionary trusts allow both types of discretion, either can be allowed on its own. It is permissible in most legal systems for a trust to have a fixed number of beneficiaries and for the trustees to have discretion as to how much each beneficiary receives.
Plano Texas Discretionary Distribution Trust for the Benefit of Trustor's Children with Discretionary Powers over Accumulation and Distribution of Principal and Income Separate Trust for each Beneficiary
Description
Form popularity
FAQ
In a recent SmartAsset study, Plano ranked #9 for the wealthiest middle class. The median salary for a Plano resident is $95,002. In a SmartAsset study of the median household income in America's largest 100 cities, Plano ranked #9 for the most wealthy middle class.
Plano, considered the ?Balloon Capital of Texas,? hosts a popular hot-air balloon festival each September. Inc. 1873.
In 1994, the city was recognized as an All-America City. By 2000, the population grew to 222,030, making it one of the largest suburbs of Dallas. Plano is surrounded by other municipalities and therefore cannot expand in area, and there is little undeveloped land remaining within the city limits.
Quality medical care facilities, superior educational opportunities, and excellent recreational and cultural amenities contribute to the quality of life for Plano's citizens.
Plano Demographics White: 55.55% Asian: 22.68% Two or more races: 9.2% Black or African American: 9.02%
Plano is the headquarters of Frito-Lay, a division of Pepsico. Heritage Farmstead Museum occupies a former sheep ranch. Plano, considered the ?Balloon Capital of Texas,? hosts a popular hot-air balloon festival each September.
Plano (/?ple?no?/ PLAY-noh) is a city in the U.S. state of Texas, where it is the largest city in Collin County. Plano is also one of the principal cities of the Dallas-Fort Worth metropolitan area.
The median property value in Plano, TX was $358,100 in 2021, which is 1.46 times larger than the national average of $244,900. Between 2020 and 2021 the median property value increased from $341,800 to $358,100, a 4.77% increase.
