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?

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Definitions:

Beneficence

The moral obligation to do good or to implement actions that benefit clients and their support persons.

Nursing Code of Ethics

A set of guiding principles that govern the professional conduct of nurses, emphasizing the importance of compassion, respect, and integrity in patient care.

Ethical Commitment

A personal or professional dedication to uphold moral principles and conduct, guided by ethical standards.