Depending on the terms of the trust, the trustees may have the flexibility to make a payment (distribution) on an ad-hoc basis to one or more beneficiaries depending on need.
Depending on your circumstances, you may decide to use a trust for many reasons:
ο In “blended families” to provide for a surviving spouse or partner who is not the parent of your child.
ο To create a life interest in a property.
ο To hold property for children.
ο To hold a business, or the shares in a company, for the benefit of a class of people who might be different from the directors or managers.