Focuses on the information needed to make excellent fiduciary decisions and draft clear fiduciary instructions under Texas law. The "discretion" exercised by a trustee includes all aspects of administration, but making payments out of a trust—the discretionary distribution—often seems to be the greatest challenge. This material was originally created for the Texas Bankers Association Annual Graduate Trust School. The material has been gradually expanded to include illustrations and materials from other states; however, the primary focus remains on the information needed to make excellent fiduciary decisions and draft clear fiduciary instructions under Texas law.