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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 –
DISTRIBUTION UNDER THE INTESTACY PROVISIONS When a person dies without leaving a will, his estate is distributed according to the Law of Succession Act. When a person dies, fou
Q. Responding to various stakeholder groups? If a company has a solitary objective in terms of maximising profitability then it is only responding to one stakeholder group name
Craig's Cars has assets of $4,550 and stockholders' equity of $3,200. What is the amount of liabilities? What is the amount of claims?
April 2014 Notepayable $9,825,000 was issued. First due is April 1,2015. 6% interest erroneously expensed a full year''s interest
1.Assume that Abel business corporation is purchasing new equipment, for 350,000$ at the beginning of 2014. Assume that Abel business corporation is in the 30% corporate tax bracke
Archer Daniels Midland Company is considering buying a new farm that it plans to operate for 10 years. The farm will require an initial investment of $12.00 million. This investm
inventory ratio of 4 compared to 7.1
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The company incurs a payroll payable of $645 per weekday of operations. The mondays of january are the 3rd, 10th, 17th, 24th, and the 31st. Paydays are every other Friday with payd
A HEALTH SAVINGS ACCOUNT AT FRONTLINE PR Susan Berry just returned from a national conference on compensation and benefits where she attended a session on Health Savings Accou
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