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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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