what is the difference between a simple or complex trust?
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A simple trust must distribute all its income currently. Generally, it cannot accumulate income, distribute out of corpus, or pay money for charitable purposes. ... A complex trust is any trust that does not meet the requirements for a simple trust.
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Trusts and Foundations are private sector entities providing funds to support charitable endeavour including the arts. ... The difference between them is that a Trust is a specific legal entity, whereas a Foundation can be a Trust, a Company limited by guarantee, etc.
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A subtle difference is a unit trust is governed by trust law, whereas an OEIC is governed by company law. ... If you invest in a unit trust you buy units whereas if you invest in an OEIC you buy shares. The key difference is pricing. The major difference between unit trusts and OEICs is the way they're priced.
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Trust is always given. It doesn't matter the context. In the end, trust is about the person extending it. If someone violates your trust, you expect them to earn it back.
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They are two different types of trusts. ... So the special-needs trust is a type of trust that is used to provide assets and resources to take care of a person with a disability, while the living trust is a will substitute that I might use in place of having a will for my estate plan.
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A trust is a legal entity employed to hold property, so the assets are generally safer than they would be with a family member. ... The trustees only have control over the assets until the children reach adulthood. Trusts can also be used for tax planning.
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Faith is a more commonly used in a spiritual context while trust is an important concept in relationships. These two concepts go hand in hand and often refer to believing in something. Trust has a deeper meaning when it comes to using it in relationships.
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The primary differences between psychological safety and trust are that psychological safety focuses on a belief about a group norm, but trust focuses on a belief that one person has about another.
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Usually where you have one, you have another. to trust means you have faith and confidence in that persons integrity. Respect means you hold that person in high regard, and honor their excellence. ... By trusting you, I put my faith in you and believe you and in you.
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The term trust account can have a different meaning depending on how it is used. A trust account is identical to an escrow account when an owner deposits funds with a third party as a prepayment or deposit for a specific purpose, such as payment for mortgage insurance.
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In a custodial arrangement, the account is owned by the beneficiary, and he or she is entitled to the money upon reaching the proper age. ... A trust fund, on the other hand, provides the person giving the money with a great deal more control, since the assets are owned by the trust.
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The difference between a will and a trust is when they kick into action. A will lays out your wishes for after you die. A living revocable trust becomes effective immediately. While you are alive you can be in full charge of your trust.
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A: An affidavit of trust and a certificate of trust are essentially the same thing. At least they serve the same functions. Simply put, an affidavit of trust is an abbreviated version of the trust agreement that provides general information about the terms of the trust.
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The difference between loyalty and trust is that loyalty the faithfulness or devotion to someone or something whereas trust is the reliance on integrity, strength, ability, etc., of someone or something.
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The key difference between the two is that unit trusts are open-ended and investment trusts are closed ended. ... Another important difference is that investment trusts are companies in their own right. This means they are not bound by the same investment rules as unit trusts, giving fund managers much more flexibility.
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Simple interest is paid on large, long-term loans, while compound interest is paid on small, short-term loans. Simple interest is paid on the principal and interest accrued, while compound interest is paid only on the principal.
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An inter-vivos trust is an estate planning vehicle that can own the assets during the trustor's lifetime. ... A living trust is revocable, which means any of the provisions and designations can be changed while the trustor is alive.