How does First Nebraska Trust Company make decisions on discretionary distributions?
Most Trusts provide for two different types of distributions; those which are mandatory and those which are discretionary. Mandatory distributions are those which must be made based upon the happening of a certain event such as the attainment of a specific age by a beneficiary. Discretionary distributions are those in which the Trustee is to exercise discretion on whether to make a distribution with such discretion frequently granted for matters such as health, education, and support in reasonable comfort.
When making discretionary distributions, First Nebraska Trust Company exercises its discretion as Trustee through the Discretionary Committee. It is our practice that all major discretionary decisions are made through the Discretionary Committee to ensure all aspects of the trust are taken into account in order in honor the stated wishes of the person who created the trust and to do so in a manner which is in the best interest of the beneficiary.
First Nebraska Trust Company Discretionary Process