MLchartDataset catalogue

Simple trust

Term · Law · MLC-T-LAW-004556

A type of trust that is required to distribute all of its income to beneficiaries annually and does not distribute trust principal. This trust cannot make charitable contributions. For tax purposes, the income distributed to beneficiaries is taxable to them, not to the trust itself.

Table 1. Record
IdentifierMLC-T-LAW-004556
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004556",
  "term": "Simple trust",
  "field": "Law",
  "definition": "A type of trust that is required to distribute all of its income to beneficiaries annually and does not distribute trust principal. This trust cannot make charitable contributions. For tax purposes, the income distributed to beneficiaries is taxable to them, not to the trust itself.",
  "url": "https://mlchart.com/terminology/law/simple-trust/"
}

Record 4,639 of 5,441 in Law terminology (MLC-0107). Request the full dataset.