Flexible trusts

[Dorothey Allen]

an investment plan that is a way of leaving money to someone after you die, in which the trustees (= the people who manage the plan) can decide who will receive the money, from an agreed list, and how the money is shared:

[Britney]

a financial arrangement in which the trustees (= people who manage someone elses money) can decide what investments to make and how to use any income from these investments, within limits that have been agreed