There are actual trust deeds for both trust types on Chris Batten’s site. I hybrid is a mixture between a Discretionary trust and a Unit Trust.
But there are 2 types:
Hybrid Discretionary Trust, and
Hybrid Unit Trust
I am not sure of the difference between the 2.
You also should beware of cheap immitations. Apparently there are accountants out there offering poor quality hybrid trust deeds.
I think the term ‘hybrid’ in relation to trusts just means a trust that emcompasses more than one type of trust (i.e. if you amend a Unit Trust which is fixed in nature to make it discretionary, then you’ve made a Discretionary Unit Trust, which can also be called a hybrid trust cause it is a combination of two different types of trusts). That’s my understanding of it anyway – hope that makes sense.
The two main types of trusts for these purposes would be:
(A) Family/Discretionary Trust; and
( Unit Trust (which has fixed unit entitlements and is not generally discretionary).
As far as advantages/disadvantages, there are so many ways to set these trusts up and so many different reasons as to why you’d have what structure – so sit down with a good accountant who can advise you on the best structure for your circumstances.