1. 1. DISCRETIONARY TRUSTS/AMANAH BUDI BICARA
DEFINISI:Trustswhere propertyisconveyedtotrusteestobe heldbythemontrust
to applythe income or the capital or bothfor the benefitof the membersof aclass
of beneficiariesinsuchproportionsasthe trusteesshall,intheirabsolutediscretion
thinkfit.
3 SEBABWUJUD
1. Bagi membolehkanbeneficiariesmenghadapi keadaan2yangtidakdiduga
2. Melindungi hartadrpdbeneficiariesyangboros
3. Utk elaktrust propertymenjadi asetuntukmenghapuskankebankrapan.
TYPES
o Exhaustive DT:DT YANG LENGKAP- Doc agreementyanglengkapttgtrusttu
Trustee mustdistribute all income accruingtothe trustproperty;
Trustee cannotaccumulate eitherthe interestorthe capital of the
TP;
Trustee discretionisinthe proportiontobe giventoeach
beneficiary.
o Non-exhaustive DT:
Trustee can accumulate trustbenefitsandhisdiscretionliesinthe
fact that he can determine whothe beneficiaryisandthe portionor
beneficial interestof the beneficiaries.
Trustee have an expresspowertoaccumulate income.
2. PROTECTIVE TRUSTS/ AMANAH PERLINDUNGAN
Trust designedtoprotectthe trustproperty.Itprotectsthe assetsof the settlorin
hisor her lifetime fromthe effectof eventssuchassettlor’sbankruptcy,divorce or
tax protection.
What? –a device for a settlor who wishes to protect his property against :
o A wasteful orfinanciallyirresponsible beneficiary;
o Alienationorbankruptcyof sucha beneficiary.
In the US –knownas the ‘spend-thrifttrust’.
Undang2 Malaysia:
o A protective trustinvolvesthe creationof a ‘determinable
interest’(kepentinganyangdiduga/ditentukan) (asopposedtoconditional
interest) infavourof athird party;coupledwiththe provisionforagiftover
to the trusteestoholdon discretionarytrustinfavourof a class uponthe
occurrence of certaindeterminableevents;
o Define alsoinSection38 of the Trustee Act 1949
DETERMINABLE INTEREST
o A can use my car ‘until’he buysone himself whereuponthe cargoesto hiswife C;
o A can use my car until he changeshisnationalitywhereuponthe cargoesto hiswife
C;
CONDITIONALINTEREST
o A can use my car on conditionthathe doesnot buya new one,if he buys a new one
thenthe car goesto hiswife C;
o A can use my propertyonconditionthathe doesnot change hisnationality….;
