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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 ...
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.
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 ...
[a] With the exception of charitable trusts, and some specific anomalous non-charitable purpose trusts, all trusts are required to have ascertainable beneficiaries. Generally speaking, there are no strictures as to who may be a beneficiary of a trust; a beneficiary can be a minor, or under a mental disability (in fact many trusts are created ...
An honorary trust, under the law of trusts, is a device by which a person establishes a trust for which there is neither a charitable purpose, nor a private beneficiary to enforce the trust.
Kyuranger is considered the fifth space-themed series [a] whose primary motifs are constellations and Greco-Roman mythology, and it is also the first Super Sentai series to introduce nine regular members in the beginning instead of five or fewer like previous installments. The team later gains three additional members, increasing the number to ...
The Trust, a lost silent drama film; Trust, a Finnish-Soviet historical drama; Trust, a dark romantic comedy; The Trust, an American drama about a murder in 1900; Trust, a British television crime drama
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.