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Irrevocable trust: In contrast to a revocable trust, an irrevocable trust is one in which the terms of the trust cannot be amended or revised until the terms or purposes of the trust have been completed. Although in rare cases, a court may change the terms of the trust due to unexpected changes in circumstances that make the trust uneconomical ...
Từ điển bách khoa Việt Nam (lit: Encyclopaedic Dictionary of Vietnam) is a state-sponsored Vietnamese-language encyclopedia that was first published in 1995. It has four volumes consisting of 40,000 entries, the final of which was published in 2005. [1] The encyclopedia was republished in 2011.
The Vietnamese Wikipedia (Vietnamese: Wikipedia tiếng Việt) is the Vietnamese-language edition of Wikipedia, a free, publicly editable, online encyclopedia supported by the Wikimedia Foundation. Like the rest of Wikipedia, its content is created and accessed using the MediaWiki wiki software.
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For Federal income tax purposes in the United States, there are several kinds of trusts: grantor trusts whose tax consequences flow directly to the settlor's Form 1040 (U.S. Individual Income Tax Return) and state return, simple trusts in which all the income created must be distributed to one or more beneficiaries and is therefore taxed to the ...
In fact, some living trusts are set up with the grantor (the creator) not being either a trustee or a beneficiary, and some living trusts are set up as irrevocable. Perhaps the article needs to be a bit more general at first, and then go into the possible different variations of a living trust, and how each variation can be used.
A purpose trust is a type of trust which has no beneficiaries, but instead exists for advancing some non-charitable purpose of some kind. In most jurisdictions, such trusts are not enforceable outside of certain limited and anomalous exceptions, but some countries have enacted legislation specifically to promote the use of non-charitable purpose trusts.
Revocable trusts offer benefits such as the ability to be easily amended, saving time and money by avoiding probate court, while irrevocable trusts offer the benefit of minimizing estate taxes and ...