Nowadays, trusts commonly hold a wide range of assets like the family home, businesses, farms, financial assets, marine and air craft, and even digital assets. Most commonly, trust property is held by trustees on a discretionary basis. This gives the trustee a lot more flexibility about what to do with income (distribute or reinvest) and when to pay capital to beneficiaries.

However, with that discretion comes a lot more responsibility to make good decisions to ensure that income and capital is available whenever it is needed rather than on a predetermined date.