What is the current state of the law on fiduciary discretion in dealing with a beneficiary's assets?

Plaintiffs’ counsel submitted that the three general characteristics identified by Wilson J. in Frame v. Smith, 1987 CanLII 74 (SCC), [1987] 2 S.C.R. 99 were present in these alleged facts: namely: (1) the fiduciary has scope for the exercise of some discretion or power; (2) the fiduciary can unilaterally exercise that power or discretion so as to effect the beneficiary’s legal or practical interests; (3) the beneficiary is peculiarly vulnerable to or at the mercy of the fiduciary holding the discretion or power.