Examlex
When a trust distributes an in-kind asset with a realized loss, most likely this loss cannot be immediately deducted by the first-tier beneficiary.
Liability
The state of being responsible for something, especially in terms of legal or financial obligations.
Creditors
Individuals or institutions to whom money is owed.
Cohesion
The tendency for a group to be in unity while working towards a goal or to satisfy the emotional needs of its members.
Social Class
A system of hierarchical social categories often determined by factors such as wealth, occupation, and education, which influence individuals' opportunities and life experiences.
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