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Simple trust

   Also found in: Financial, Wikipedia 0.01 sec.

simple trust n. a trust which requires that all income be distributed each year and not accumulated. (See: trust)


SIMPLE TRUST. A simple trust corresponds with the ancient use, and is where property is simply vested in one person for the use of another, and the nature of the trust, not being qualified by the settler, is left to the construction of law. It differs from a special trust. (q.v.) 2 Bouv. Inst. n. 1896.



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We don''t realize that since we''ve allowed ourselves to become unobservant to the details of the Gospel and how it continually matures, we will continually struggle through difficult situations in our spiritual life without the simple trust with which we came to Christ.
Therefore, if the taxable income generated by the partnership exceeds the amount the partnership distributes to its partners (including the trust), the simple trust will often owe income tax.
It''s due to the simple trust that American and the US Mint carries that makes the American Eagle coin accepted worldwide.
 
 
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