Trusts
Trusts are fiduciary arrangements that allow a third party, or trustee, to hold and manage assets on behalf of a beneficiary or beneficiaries. Within accounting, trusts involve the recording, managing, and reporting of financial activities related to these assets, ensuring they are managed in accordance with the terms set out in the trust agreement.
Lesson Videos
Trusts Overview
Introduction to Trusts
Reasons for Establishing a Trust
Trusts vs. Estates
Types of Trusts
Simple Trusts
Complex Trusts
Grantor Trusts
Distributable Net Income
Trusts Summary
Trusts - Practice Questions
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