Where, by the terms of a trust, the fund is directed to be vested in aparticular manner till the period arrives at which it is to be appropriated, this is called a” directory trust .” It is distinguished from a discretionary trust , in which the trustee has adiscretion as to the management of the fund. Deaderick v. Cantrell, 10 Yerg. 272, 31Am. Dec. 570.
Black’s Law Online Dictionary
