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The 505 Fix

There can be serious tensions with beneficiaries when a trustee is required to distribute all of the trust's income currently (meaning, it's a mandatory income trust) and the trust holds an interest in a partnership or other pass-through entity. The problem stems from the fact that such trusts report their distributive share of the entity's income, but don't always receive all of the entity's income.
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There can be serious tensions with beneficiaries when a trustee is required to distribute all of the trust's income currently (meaning, it's a mandatory income trust) and the trust holds an interest in a partnership or other pass-through entity.

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