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:

Conditioned Eyeblink

A classical conditioning experiment where a subject learns to blink in response to a conditioned stimulus, typically a tone, that has been associated with an unconditioned stimulus, like a puff of air to the eye.

Hypothalamus

A neural structure lying below (hypo) the thalamus; it directs several maintenance activities (eating, drinking, body temperature), helps govern the endocrine system via the pituitary gland, and is linked to emotion and reward.

Amygdala

A section of the brain's limbic system involved in emotion, particularly fear and pleasure.

Hippocampus

A critical region of the brain involved in memory formation, organization, and retrieval.