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Virginia Circuit Court Fiduciary Form Cc 1684

Virginia Circuit Court Fiduciary Form Cc 1684

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a common and often confusing part of estate planning is taxes who pays and how much to help make your life your beneficiaries lives and your estate planning process a little easier i'm going to walk you through the answers to one of our frequently asked questions do trust beneficiaries pay taxes to start what exactly is a beneficiary of a trust a beneficiary of a trust is usually an individual or sometimes a group of individuals or even an entity like a charity who will inherit some portion or share of a trust now how does a beneficiary actually receive their inheritance beneficiaries can inherit their designated portion in one of three ways one an immediate outright distribution where the beneficiary receives the funds as a lump sum payment with no restrictions on how the beneficiary may use the funds two staggered outright distributions where the beneficiary receives the funds over a period of time or at specified intervals usually in a set amount with no restrictions on how

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