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Statement of Income from Trust Fillable Form

Statement of Income from Trust Fillable Form

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hello in this video will cover basic issues related to income tax of estates and trusts now what exactly is a trust it's important to note that the term Trust is not actually defined in the tax code it usually refers to an arrangement created by a will or by an inter vivos which is lying for lifetime declaration the trustee has to take title to property for purposes of protecting or conserving it for beneficiary and a trust is used to archive various financial and other goals so there's multiple purposes of goals with respect to trust a lot of times maybe someone is putting money into a trust for purposes of okay upon repop word retirement they get the money out or maybe they have a child and the child is young so they're putting money away in trusts so that the child isn't get the money early on they go spend it you know blow all their money at Disney World right it's it's there's various goals and I'll talk about some of

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