What is the symbol for Scudder Multi-Market Income Trust in the NYSE?

Is a trust fund considered a business?

A trust fund is not considered a business. In various countries, however, income tax forms may be required each year. Also a trust manager must be paid on an agreed upon set of fees. Here we see that managing a trust fund is a business, but the fund itself is not.

Can a family trust own shares in a S corp?

Historically, S corporations were required to be owned by a few individuals. Over time, the concept of individuals was expanded such that some limited types of trusts were allowed to be shareholders and own stock in S corporations. The two most common types of trusts that can qualify as shareholders in S corporations are Qualified Subchapter S Trusts (QSSTs) and Electing Small Business Trusts (ESBTs). The two types of trusts are generally created by individuals who are seeking to transfer business interests to their family. Qualified Subchapter S TrustsQSSTs) The qualifying requirements for a QSST are statutorily defined under I.R.C. §1361(d)(3), and are as follows: # There is only one income beneficiary and he or she is a U.S. citizen or resident. # All income of the trust is required to be distributed currently to the one income beneficiary. # All corpus distributions must go to the one beneficiary. # The beneficiary's income interest must terminate at the earlier of the beneficiary's death or trust's termination. # An election to be treated as an eligible S corporation shareholder must be made. Additionally, in order to qualify as a QSST, the income beneficiary must make a QSST election using IRS Form 2553. The election must be filed within the 2-month and 16-day period beginning on the date the stock of the S corporation is transferred to the trust or the first day of the first taxable year for which the subchapter S election is effective, whichever is later. The income beneficiary of the QSST is required to sign his or her consent on Form 2553. Thus, it's important to note that the existence of a QSST requires the cooperation of the beneficiary. From a tax perspective, QSSTs are preferred because QSSTs are taxed as an ordinary grantor trust. In other words, the beneficiary is taxed only on the income that the beneficiary himself receives, instead of being taxed on the proportional share of income owned by the trust. This difference in amounts can be substantial. Further, because all of the trust corpus must go to the beneficiary, income cannot accumulate in the trust. For this reason and well as the desire to have multiple beneficiaries, many choose the ESBT as their trust of choice. Electing Small Business Trusts (ESBTs) Irrevocable trusts can also qualify as shareholders in an S corporation by electing to be treated as ESBTs. To become an ESBT, a trust must meet the requirements of IRC §1361(e) which are as follows: # All beneficiaries of the trust must be individuals, estates or charitable organizations described. # The S corporation stock in the trust may not be acquired by purchase # QSSTs and tax-exempt trusts cannot be ESBTs - the trust cannot be an electing QSST with regard to any stock, even stock in another S corporation; and # Each potential current beneficiary of the trust is treated as a shareholder for the purpose of the S corporation eligibility rules. In order to qualify as an ESBT, the trustee makes an election using IRS Form 2553. The ESBT election must generally be filed within the two month and 16 day period beginning on the day that the S corporation stock is transferred to the trust. From a tax perspective, an ESBT can be extremely harsh on its beneficiaries. While an ESBT can have multiple beneficiaries and can accumulate trust income, I.RC. §641(d) requires that the ESBT be taxed at the trust level on its proportionate share of taxable income of the S corporation. This tax is a flat rate equal to the highest individual marginal rate, which is currently at 35% for 2009. This is true regardless of whether the beneficiaries, themselves, receive any actual income. Finally, it is important to note that because most irrevocable trusts may elect to become (or at least partially become) one of the two types of trusts discussed above, it may be beneficial to add QSST language to future irrevocable trusts that allows the trustee to make such an election. Historically, S corporations were required to be owned by a few individuals. Over time, the concept of individuals was expanded such that some limited types of trusts were allowed to be shareholders and own stock in S corporations. The two most common types of trusts that can qualify as shareholders in S corporations are Qualified Subchapter S Trusts (QSSTs) and Electing Small Business Trusts (ESBTs). The two types of trusts are generally created by individuals who are seeking to transfer business interests to their family. Qualified Subchapter S TrustsQSSTs) The qualifying requirements for a QSST are statutorily defined under I.R.C. §1361(d)(3), and are as follows: # There is only one income beneficiary and he or she is a U.S. citizen or resident. # All income of the trust is required to be distributed currently to the one income beneficiary. # All corpus distributions must go to the one beneficiary. # The beneficiary's income interest must terminate at the earlier of the beneficiary's death or trust's termination. # An election to be treated as an eligible S corporation shareholder must be made. Additionally, in order to qualify as a QSST, the income beneficiary must make a QSST election using IRS Form 2553. The election must be filed within the 2-month and 16-day period beginning on the date the stock of the S corporation is transferred to the trust or the first day of the first taxable year for which the subchapter S election is effective, whichever is later. The income beneficiary of the QSST is required to sign his or her consent on Form 2553. Thus, it's important to note that the existence of a QSST requires the cooperation of the beneficiary. From a tax perspective, QSSTs are preferred because QSSTs are taxed as an ordinary grantor trust. In other words, the beneficiary is taxed only on the income that the beneficiary himself receives, instead of being taxed on the proportional share of income owned by the trust. This difference in amounts can be substantial. Further, because all of the trust corpus must go to the beneficiary, income cannot accumulate in the trust. For this reason and well as the desire to have multiple beneficiaries, many choose the ESBT as their trust of choice. Electing Small Business Trusts (ESBTs) Irrevocable trusts can also qualify as shareholders in an S corporation by electing to be treated as ESBTs. To become an ESBT, a trust must meet the requirements of IRC §1361(e) which are as follows: # All beneficiaries of the trust must be individuals, estates or charitable organizations described. # The S corporation stock in the trust may not be acquired by purchase # QSSTs and tax-exempt trusts cannot be ESBTs - the trust cannot be an electing QSST with regard to any stock, even stock in another S corporation; and # Each potential current beneficiary of the trust is treated as a shareholder for the purpose of the S corporation eligibility rules. In order to qualify as an ESBT, the trustee makes an election using IRS Form 2553. The ESBT election must generally be filed within the two month and 16 day period beginning on the day that the S corporation stock is transferred to the trust. From a tax perspective, an ESBT can be extremely harsh on its beneficiaries. While an ESBT can have multiple beneficiaries and can accumulate trust income, I.RC. §641(d) requires that the ESBT be taxed at the trust level on its proportionate share of taxable income of the S corporation. This tax is a flat rate equal to the highest individual marginal rate, which is currently at 35% for 2009. This is true regardless of whether the beneficiaries, themselves, receive any actual income. Finally, it is important to note that because most irrevocable trusts may elect to become (or at least partially become) one of the two types of trusts discussed above, it may be beneficial to add QSST language to future irrevocable trusts that allows the trustee to make such an election.

What is a irrevocable trust MIDGET?

A MIDGET trust is a Medicaid Intentionally Defective Grantor Trust. Done "right", an irrevoccable trust will either pay taxes as its own independently existing entity, or the income taxes will be due and paid by the beneficiaries. A Grantor Trust is one which is created to provide benefits to someone else (the beneficiary), but the income from the trust is taxed to the person establishing the trust (the grantor). For a long time, that was a bad thing, because people put assets into a trust to benefit others often, and getting stuck with the tax bill wasn't a good thing. More recently, estate planning attorneys such as those at the American Academy of Estate Planning Attorneys realized that an Intentionally Defective Grantor Trust (i.e. a trust which is intentionally deemed a Grantor Trust by the IRS) could serve estate planning goals. Such an IDGET (or IDGT) lets the Grantor preserve the assets they put into trust for someone by having the Grantor pay the taxes instead of their beneficiary or the trust for their beneficiary. This also serves to decrease the size of the Grantor's remaining estate which can be subject to onerous Federal Estate Tax and other death taxes later. Finally, the Medicaid portion of this term (In California, the 'M' is for Medi-Cal) refers to the use of this trust vehicle to encompass assets the Grantor places into the trust to protect them from a claim by the state Medicaid authorities for reimbursement for Medicaid (often Nursing Home/Long Term Care) benefits, or to increase the Grantor's eligibility for such benefits. Any member of the American Academy of Estate Planning Lawyers should be able to assist you with such an issue. My practice is in Pittsburgh as The Estate Planning Centers at The Coulter Law Offices LLC. Please remember that this is a general discussion only, and is not intended as legal advice upon which anyone should rely. Moreover, I'm typing this reply off of the top of my head as a courtesy, not as a researched answer to your situation. You should consult with a lawyer or appropriate professional regarding you own specific facts and circumstances.

Can a trustee sell assets in a irrevocable trust when the decease owns 99 percent of the property named in the trust?

You must review the terms of the trust to determine the powers of the trustee. If you still have questions then you need to consult an attorney who specializes in trust law.On one point you seem to be confused. A decedent cannot be the owner of 99% of the property in a trust. The property is owned by the trust. The most common purpose of a trust is to remove property out of a person's estate (the grantor) so that the property bypasses probate.Once a person transfers her property to a trust, it is managed by a trustee according to the terms of the trust. A properly drafted trust has provisions that direct the distribution of property after the death of the grantor.

What is a residual trust?

A residual trust is known as the A-B trust. It its set up to handle someones estate and allow for part of it to be used for the spouse.

What is the symbol for Scudder Multi-Market Income Trust in the NYSE?

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Is a trust fund considered a business?

Can a family trust own shares in a S corp?

What is a irrevocable trust MIDGET?

Can a trustee sell assets in a irrevocable trust when the decease owns 99 percent of the property named in the trust?

What is a residual trust?

What is the symbol for MFS Multimarket Income Trust in the NYSE?

What is the symbol for Scudder High Income Trust in the NYSE?

What is the symbol for Scudder Strategic Income Trust in the NYSE?

What is the symbol for Scudder Municiple Income Trust in the NYSE?

What is the symbol for Scudder Strategic Municiple Income Trust in the NYSE?

In what year did MFS Multimarket Income Trust - MMT - have its IPO?

What is the market cap for MFS Multimarket Income Trust MMT?

In what year did Scudder Strategic Income Trust - KST - have its IPO?

In what year did Scudder High Income Trust - KHI - have its IPO?

In what year did Scudder Municiple Income Trust - KTF - have its IPO?

In what year did Scudder Strategic Municiple Income Trust - KSM - have its IPO?

What is the market cap for Scudder Strategic Income Trust KST?

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