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Tax Professionals Use the Terms Simple Trust and Complex Trust

question 130

Essay

Tax professionals use the terms simple trust and complex trust when dealing with fiduciary arrangements. How does one know whether a trust is simple or complex? When is this determination made?


Definitions:

Type A Personality Style

A behavior pattern characterized by aggression, competitiveness, impatience, urgency, and a strong sense of time urgency.

Cynical

Characterized by a belief that people are motivated by self-interest; distrustful of human sincerity or integrity.

Impatient

A feeling of restlessness and frustration resulting from being annoyed by delays, obstacles, or slow processes.

Driven

Being highly motivated or determined to achieve specific goals or outcomes.

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