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Trust Agreement

Posted by Josh On October - 12 - 2021

Implicit trusts are divided into two categories: outcome and constructive. The resulting trust is implicit in the law in determining the supposed intentions of the parties, but it does not take into account their explicit intent. Constructive trust[12] is trust implicit by law to establish justice between the parties, regardless of their intentions. A trust is not a legal person in itself. Rather, it is a method of liquidating assets and involves a relationship between the trustee and the beneficiary. However, a trust is treated as an individual for income tax purposes. .

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