[IfThereIsaGod]

Ok so I am studying with Becker and they have a real nice Complex Trust problem and I get the concept. But the Simple trust problem sucks. I was wondering if anyone could help me with an example for a simple trust? Thank you!

AUD----92 5/31/12
FAR----92 7/3/12
RED----85 8/3/12
BEC----?? 8/29/12

[IfThereIsaGod]

any help here?

AUD----92 5/31/12
FAR----92 7/3/12
RED----85 8/3/12
BEC----?? 8/29/12

[Anonymous]

What kind of example are you searching for? The Ninja notes summarize the differences pretty well.

[IfThereIsaGod]

Could you post the section of the ninja notes? I am just looking for a more detailed approach for the topic.

AUD----92 5/31/12
FAR----92 7/3/12
RED----85 8/3/12
BEC----?? 8/29/12

[Anonymous]

What part of simple trusts is confusing you? We can probably answer the question if you give us more detail on what you're getting hung up on.

[IfThereIsaGod]

Well I am just trying to find a more detailed example. In Becker they just give an example with two lines: one has Interest income of 1,000 then it has distributions of 1,000 = 0. My question is basically does it always end at 0 because it says a simple trust distributes all of its income currently. Its just a vague description with a crappy example.

AUD----92 5/31/12
FAR----92 7/3/12
RED----85 8/3/12
BEC----?? 8/29/12

[Anonymous]

The definition Becker gives is really straight forward… A simple trust is pretty much the exact opposite of a complex trust.

1) Only the interest can be distributed, not the principal

2) The current interest cannot be accumulated (all of the interest must bad paid out)

3) Charitable contributions can't be deducted

4) The exemption is $300

I think the first 2 points is what you were looking for

[Anonymous]

practice makes perfect…. get you hands on a few MCQ's regarding this topic and you will be good money. The topic isn't really that deep. You will only be tested on the 4 differences mentioned above.

[Author]

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