Simple or complex
1. This survivor's trust has these provisions. The trustee and the surviving settlor are the same person. Is it a simple or a complex trust?
The trustee shall pay to or apply for the benefit of the surviving settlor… the entire net income of the trust… not less often than annually.”
The trustee shall pay… so much of the principal… as the trustee deems proper for the surviving settlor’s comfort, welfare, and happiness.”
The trustee shall pay… so much of the principal… as the trustee deems proper for the surviving settlor’s comfort, welfare, and happiness.”
2.If this is a simple trust, then all capital gains remain in the trust. True/False?
