Justice Umar Ata Bandial opined that tax authorities were told that Tareen's children are the
beneficiaries of trust, however, Tareen himself is the beneficiary of the trust according to trust deed.
9) The
beneficiaries of Trust 1 were the nondonor spouse and her daughter.
Second, the trust language did not require that notice be given to the
beneficiaries of trust contributions or of their withdrawal rights.
These changes benefit
beneficiaries of trusts and partners of partnerships (particularly limited partners without a role in the partnership's management) that may be unaware of California's tax filing requirements.
8) Moreover,
beneficiaries of trusts must be involved in the process of modification.
A Sunday Times investigation revealed charity groups were unwittingly being named as the
beneficiaries of trusts listed in the British Virgin Islands (BVI) and the Cook Islands to ensure the real owners avoided scrutiny over tax payments.
Leaked documents from tax havens in the British Virgin Islands and Cook Islands show good causes are named as
beneficiaries of trusts set up by the rich.
It appears that in some cases the maximum value under the Form 8938 reporting requirement for
beneficiaries of trusts holding only real estate may exclude the trust real estate asset from reporting even if the underlying asset may be worth far more than the various thresholds, if there is little or no distribution.
Trustees and
beneficiaries of trusts, therefore, may seek investments that are not taxed so highly.
taxpayers have a range of relationships to those entities, including as owners, as investors, as partners, and as
beneficiaries of trusts.
There are many circumstances in today's world where trusts exist and are used for the benefit of a vast number of people, often without them being aware that they are
beneficiaries of trusts.
