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Simple English definitions for legal terms

complex trust

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A quick definition of complex trust:

A complex trust is a type of trust that is not simple. It is called "complex" because the trustee has more control over how the trust's money is used. To be considered a complex trust, it must do at least one of three things each year: keep some of its income, give some of its money to the beneficiaries, or donate some of its assets to charity. Complex trusts can deduct certain expenses when calculating their taxable income. They can also be helpful for people with large estates or many beneficiaries who want more options for estate planning.

A more thorough explanation:

A complex trust is a type of trust that does not meet the requirements of a simple trust according to the IRS. The term "complex" refers to the trustee's discretion rather than the complexity of the trust's provisions. To be considered a complex trust, it must engage in at least one of the following activities each year:

  • Keep part of its income instead of giving it all to the beneficiaries
  • Distribute part or all of the trust's principal to the beneficiaries
  • Distribute a portion of the trust's assets to charitable organizations

For tax purposes, complex trusts can deduct certain expenses when calculating taxable income for the year. The amount of income the trust is required to distribute for the year is deducted. A complex trust may provide additional estate planning options for owners with large estates or many beneficiaries.

Let's say that a wealthy individual sets up a trust for their children and grandchildren. The trust is set up as a complex trust because it distributes a portion of its assets to charitable organizations each year. The trustee has discretion over how much income to distribute to the beneficiaries and how much to keep in the trust. The trust can deduct certain expenses when calculating taxable income for the year, such as the amount of income it is required to distribute to the beneficiaries. This allows the trust to minimize its tax liability and provide additional estate planning options for the owner.

complete integration | compos mentis

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m10
11:58
Nah nah she would not like that. She is conservative.
BulbasaurNoLikeCardio
11:58
Tell her you just got over a cold and if she wants to try and steal your germs its on her but no one likes being sick so hopefully she is chill
m10
11:59
We will see. This is enough feedback. Thank you all.
12:00
tell her you wanna test and see if your immune systems are compatible, that gets the ladies going
m10
12:00
Lol, maybe
babycat
12:00
lmao when you give the republican baddie the ick by masking up
12:01
LOL
Dkk
12:02
Just part of the culture.
BulbasaurNoLikeCardio
12:04
I wish that wearing a mask when sick stuck around as an okay thing like it is in the rest of the world, not all of us have enough sick days to be ditching work.
Dkk
12:04
Unless its like an N95 i dont think it will really do anything
12:04
there's even a mask ban in some places. altho one of my coworkers wears a mask anyway despite customers being rude to her about it
12:05
good morning
12:05
why does umiami ask "Are you applying, or have you applied, to other law schools? If so, please list them."
BulbasaurNoLikeCardio
12:05
One manager came in sick wearing a mask, got roasted and stopped wearing it that day. The entire office has been cycling sickness for two weeks now. It may not be super effective but it may help in slowing the spread during meetings when we have to be so close
12:05
am i the only one who has never gotten my status checker to work on here?
BulbasaurNoLikeCardio
12:06
@ChowieBean: want to see what schools they share an applicant pool with, think it is all data harvesting stuff no a +/- for the applicant
12:06
ok good cuz idk whether i wanna tell them or not
12:06
thanks bulbasaur
12:08
not to be that guy again but berkeley person/applicant id is back and Shiny New Logo
be that guy
EW THE NEW LOGO IS SO UGLY
WTF
12:09
need to send in my berkeley app rawwwww
BulbasaurNoLikeCardio
12:09
@ChowieBean: should be required to tell them, the schools who asked I only told them the schools in their area not all of them.
BulbasaurNoLikeCardio
12:10
*shouldnt be
12:12
@jackfrost11770: if i get a berk A today and they have that logo im withdrawing (/s /s /s /j /j /j)
babycat
12:12
@ChowieBean: me too lol. you applying to public interest scholars program?
12:14
yes def applying public interest
12:16
i was raised like blocks away from umiami
12:16
idk if i wanna go back to florida tho so im applying there as safety/target 💀
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