It is an irrevocable trust which requires the trustees to pay all net income to the grantors for their lifetime. The principal of the trust shall at all times be unavailable to the grantors. The Grantors shall have no right to compel the Trustees to distribute any principal to or for the benefit of either Grantor; and the Trustees shall not, at any time distribute any of the principal of the trust estate to or for the benefit of the Grantors. The Trustees may, in their sole and uncontrolled discretion, distribute so much of the principal, whether the whole or a lesser amount, to or for the benefit of the Grantors' issue, excluding themselves. I just want to make the correct selection so I can file the extension. Thank you!
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It's a simple trust unless it distributed principal. If it did, it's a complex trust. It can toggle from year to yer.
It's a simple trust unless it distributed principal. If it did, it's a complex trust. It can toggle from year to yer.
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