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PROTECTIVE TRUSTS
The income of property may be settled on such terms as to restrict its availability to creditors of the beneficiary in the following ways:(a) Determinable interests:In this case the interest of the beneficiary ceases on alienation or bankruptcy. Note that a person cannot settle property on himself until bankruptcy since this would defeat the claims of his creditors.
(b) Discretionary trusts:In this case the trustees have a complete discretion whether to pay the income to the beneficiary or not.
(c) Protective trustsIf income is settled on "protective trusts", this operates to give –
Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expens
What are the legal distinctions between a business combination, a merger, and a consolidation? Mergers Vs Acquisitions: When one company takes over another and clearly esta
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inventory ratio of 4 compared to 7.1
Describe Following questions:- Q.1 What organizations are responsible for governing financial reporting? What is the role of each organization? How have the roles changed in the
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Receiver necessary statement The receiver may, if necessary, require the statement to be submitted by: Past or present officers of the company Persons who have taken
Question 1: (a) Define program evaluation. (b) Discuss the four types of program evaluation that are usually carried in the Public Sector. Question 2 (a) You have
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