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 Complex Trust |
Complex Trust
A trust that provides income that may be distributed to the trust beneficiaries, or accumulated, in the discretion of the trustee. To the extent that income is distributed to the beneficiaries, the income is taxed to them. If income is retained in the trust, it is taxed to the trust as a separate taxpayer. Depending upon the discretion given the trustee by the controlling instrument, principal may or may not be distributed to beneficiaries.
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