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LATEST VIEW LEGAL BLOG

Fettering of a trustee’s discretion – when will it be ignored? **
when-a-fettering-of-discretion-when-it-will-be-ignoredDiscretionary trusts are regularly used in commercial transactions, and of course tax issues are always present. But, there is a more fundamental issue that deserves attention – fettering of a trustee's discretion.

Take for example an insurance funded buy-sell arrangement that uses options under the contractual arrangement to help facilitate any ultimate buyout. This is a widely used, and generally very sensible, approach to take. A significant difficulty can arise however where the parties to the buy-sell agreement include trustees of discretionary trusts.
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