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Differences between estates and trusts
Note particularly the following differences between estates and trusts:—1. Estate: on the death of a testator or an intestate, all assets, including income accrued up to the date of death, are capital: income arising after death is income.
2. Trust:
ADVANCEMENT Trustees may apply not more than half of the presumptive or vested share of the capital held in trust for any person (infant or adult) for his advancement or ben
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is it true that deficit is an asset?
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