simple trust

simple trust definition - business

simple trust

A trust in which the trustee is required to distribute all income currently. A simple trust is not permitted to make charitable gifts or receive a charitable gift deduction. Compare complex trust.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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