Discretionary trusts are increasingly being used by individuals and families for protection purposes, whether to protect assets/capital or to protect the interests of vulnerable beneficiaries. The level of discretion afforded to trustees in the administration of a discretionary trust facilitates control by the trustees over the assets comprised in the trust fund and also provides a significant degree of flexibility. Such inherent flexibility can allow the trustees to take account of any change in circumstances, whether the change relates to the nature of the assets comprised in the trust fund or the personal circumstances of one or more of the beneficiaries. The combined features of facilitating control over assets and allowing a significant degree of flexibility mean that discretionary trusts can be very effective tools to protect both capital and individuals.