Simple Trust


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Simple Trust

A trust in which the beneficiary may take ownership of the assets in the trust at any time. He/she may also take any and all income the trust produced whenever he/she wishes. The trustees of a simple trust must act in accord with the beneficiary's wishes. A simple trust contrasts with other types of trusts, in which the trustees are not answerable to the beneficiary. A simple trust is also called a bare trust.
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Under prior law, if a partner/benefi-ciary of a WP/WT was itself a foreign partnership, foreign simple trust, or foreign grantor trust and the second-tier entity did not itself elect to be a WP/ WT, a WP/WT could not assume these primary chapter 3 and chapter 61 responsibilities with respect to the second-tier entity and its partners/beneficiaries.
Any money which is left in George's appeal will go towards funding treatment for the other children who have neuroblastoma, who are trying to raise funds through the 2 Simple Trust.
Faith is a simple trust in God, an indispensable surge of trusting undertaken countless times over in the course of our life.
Just like our simple trust as children that the right trainers would make us run faster, we think simple faith will make the national team play better.
Education's productivity crisis in the past four decades should be evidence enough that simple trust is not sufficient.
With her simple trust in composer and librettist, Helen Donath seemed to offer a gentle but firm rebuke to the men in her life for their errant notions of something she understands far better than they.
A trust is a simple trust if it: (1) is required to distribute all current income currently, (2) does not make distributions for the year in excess of its current income and (3) does not make distributions to charity.
Once Congress acts and a bill is signed by the President, however, it is the clear and simple trust of the executive agency to administer the law - fairly, consistently, and with due professional care.
With businesses racing to the market to deliver digital payment services for both consumers and merchants, a market projected to be well in excess of $1 trillion, people will need to have simple trust in one another and transact business with convenience and security," Grissen said.
A trapping distribution will be made to a simple trust only if the distribution is treated as principal for fiduciary accounting purposes.
If a trust fails to meet one or more of the conditions to be a simple trust, it is deemed a complex trust.
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