The drafting and administration of discretionary trusts can present a number of challenges and traps for the unwary. This program will discuss six duties the trustee of a discretionary trust owes its beneficiaries that both the drafter and counsel for the trustee must be familiar with. It will also discuss the differences between a “wholly discretionary trust” and a “discretionary trust with support standards” and how the administration of each differs. Finally, this program will discuss the gift and estate tax implications of trustee selection and how the terms of a discretionary trust may impact trustee selection.