This trust is available as a discretionary trust which means the trustees have flexibility to make payment to any of the discretionary beneficiaries. And it’s also available in a bare trust version, which makes sure the beneficiaries are fixed.
This trust is similar to the split trust explained above. The only difference is that it’s designed for jointly owned plans where the plan owners want to receive any other benefits. It’s available as either a discretionary trust or a bare trust.
Please note this is a guide and shouldn’t be relied on as actual advice.