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Simple trust |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Faith is a simple trust in God, an indispensable surge of trusting undertaken countless times over in the course of our life. Because the entity functions as a simple trust in most tax years under the subchapter J rules, it is not subject to income tax and, thus, provides a tax-efficient way to distribute royalties to unit holders. Estates have a $600 exemption for fiduciary income tax purposes, as opposed to a $100 exemption for a complex trust and a $300 exemption for a simple trust. |
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