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A trust is set up by a person donating to charity and transferred to the property to be donated. The charity involved must be IRS approved, or in other words, the charity must have tax-exempt status.

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Difference between complex trust with 100 exemption and 300 exemption?

There is one main difference between exemptions in a trust. According to the IRS, a 100 exemption on a trust is a simple and personal trust, a 300 exemption is a complex trust, usually for a charitable organization.


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Do the beneficiaries get a complete copy of will and trust documents after the death?

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Trust Documents: Knowing Legal Terminology?

Knowing legal terminology is essential to creating precise and accurate trust documents. Creating a trust is one of the most important legal actions a person can take during his or her lifetime. By knowing legal terminology, one can be assured he or she will create or purchase legal services which are accurate and work to benefit one’s estate. One important aspect of trust documents is the remainders they contain. A remainder is a grantee’s future interest that waits until a possessory estate ends naturally. It is a very common occurrence in property law that clients wish to create trusts which include remainders. An example of language depicting a remainder are, A to B for life, then to C. It is important to keep in mind that a remainder allocates land or an estate to a new third party, while a reversion allocates land or an estate back to the grantor. The formal definition of a remainder is that it is a future interest created when a grantor conveys a possessory estate that is inherently limited, and in that conveyance, also conveys the future interest to a second grantee. A reversion is a future interest created when a grantor transfers a very limited possessory estate. In a reversion, the person making the grant also keeps the future interest rather than transferring it to a second grantee. It is important to know the specific concepts within the broad definitions of remainders and reversions. For a remainder, there are two different types to choose from when creating an estate or planning an estate. A remainder can be either a vested or contingent remainder. A vested remainder will always become possessory, while a contingent remainder is not always certain to become possessory. To discuss further, there are certain elements that must be met for a remainder to be vested. First, a remainder will be vested if it is given to an ascertained person. Second, it will be vested if the words creating the remainder do not contain a condition precedent. There are also certain elements that must be met for a remainder to be contingent. First, a remainder will be contingent if it is given to an unascertained person. Or, a remainder will become contingent if the words creating the remainder do contain a condition precedent, unlike a vested remainder. Overall, it is incredibly important to know these legal terms in order to create trust documents that are precise.


Can you use Disney's Aladdin music for a charitable show?

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How do you interpret the remainder?

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One third is a fraction and cannot be expressed in remainder form.


If you randomly take a positive integer and divide it by 23 what is the probability that the remainder is 13?

Out of every 23 consecutive positive integers, one of them is evenly divisible by 23, one producesa remainder of 1, one produces a remainder of 2, . . . . . , one produces a remainder of 13, . . . . . ,and one produces a remainder of 22.So the probability that a random integer will produce a remainder of 13 is (1/23) = about 4.35% (rounded)