simple trust

Definition of "simple trust"
  1. A type of trust where all income must be distributed annually instead of being accumulated
How to use "simple trust" in a sentence
  1. John created a simple trust to ensure his children receive annual income from his investments.
  2. The charity is the beneficiary of a simple trust, receiving yearly dividends from the trust fund.
  3. Unlike a complex trust, a simple trust mandates yearly distribution of all its income.

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