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)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
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Assume the same simple trust as above, except there are expenses for investment advisory fees and custodial fees as well.
If a client in that situation is worried about their ex doing something funky with the money, set up a simple trust to allow a third-party to make the call concerning disbursements.
Nature, nurture and gender effects in a simple trust game (Discussion paper No.
Clients who don't have inordinately sizable estates may be seeking a simple trust option to protect the assets they do have.
A simple trust is required to distribute all of its current fiduciary accounting income (FAI) to its beneficiaries.
Ordinarily, a foreign partnership, Foreign simple trust, or foreign grantor trust is looked through for chapter 3 and chapter 61 purposes.
Finally, it will be taxed as a simple trust, which makes it much easier to file and report the trust's income.
1 shows a simple trust network (a local trust relations network for a given node i [G.sub.LTrn] (i) is a sub-set of [G.sub.Trn] , where [G.sub.Trn](i)=<V',E ,W',I> , <V',E ,W',I> in [G.sub.Trn] (i) are subsets of V, E, W in [G.sub.Trn] separately.
It begins with simple trust, for sure, but it seems to demand more than that.
At first glance these new vehicles may seem a good idea but, realistically, I have to question the value of these schemes over placing money on behalf of the child in a simple trust.
Stash away some money in a simple trust called a "bare" trust, which is held for the child's benefit.
However, there are good reasons for having a simple trust arrangement, protecting assets against nursing home fees, the re-marriage of the surviving spouse or divorce, bankruptcy etc of children/grandchildren.

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