For a general definition of a trust, see
IHTM16042.
Section 16 of IHTM deals largely with interest in possession
trusts (IIP), where the beneficiary has the immediate right to
income/enjoyment of the assets.
In contrast, if the trust is discretionary the beneficiary
(or object) has only the right to be considered by the trustees if
and when they distribute any income or benefits. There will usually
be a class of potential beneficiaries.
The classification of the trust may be affected by
