Which clause protects proceeds from creditors of the beneficiary?

1 answer:

8 0

The answer is spendthrift clause. It is a trust that is produced for the benefit of a person that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary. Creditors of the beneficiary usually cannot reach the money in the trust, and the funds are not actually under the control of the beneficiary. Also, it prevents the beneficiary's reckless spending of benefits.

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What happens if you fail to pay your annual taxes?

aleksklad [387]

Answer and Explanation:

Simply enough, the IRS comes for you and charges a failure to pay penalty. The penalty is 0.5% of your previous unpaid taxes for every month. So if you wouldn't want to lose more money, I'd suggest you pay your taxes.

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2 years ago

Timmons corporation purchases office supplies for $350 cash. how would this transaction be recorded?

andrezito [222]

Timmons Corporation purchases office supplies for $350 cash. Debit Supplies $350, credit Cash $350.

A legal entity is an organization (usually a group of people or a legal entity) authorized by the State to act as a single entity and legally recognized as such for a specific purpose. Early incorporated entities were established by charter. Most jurisdictions now allow the formation of new companies through registration.

A corporation is a business entity owned by shareholders who elect a board of directors to oversee the activities of the organization. A company is responsible for its actions and finances, but its shareholders are not.

Learn more about Corporation here:brainly.com/question/13551671
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1 year ago

f pressure is put on the government to maintain a balanced budget during a recession. In this scenario, government would need to

Kitty [74]

Answer:

Increase

fall

Explanation:

A recession occurs when the gross domestic product of a country for two consecutive quarters is negative.

Annually balanced budget is a budget where at the end of every year, revenue must equal expenditure.

If in a recession, a government is under pressure to maintain a balanced budget, the government would need to increase taxes. this is because income would be less than government expenditure as a result of the recession. In order to maintain a balanced budget, the government can either increases taxes are reduce expenditure.

When taxes are increased, disposable income falls and this causes aggregate demand to fall

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2 years ago

Kendall’s Home Decorators believes that the demand for its services will expand greatly because a real-estate developer has just

gtnhenbr [62]

Answer: The managers of Kendall’s Home Decorators are making a projection for the future, also known as a forecast.

Forecasting is know as the technique of predicting future supported on past and present event or data , commonly done by analyzing trends.

Here in this case the managers of Kendall’s Home Decorators are predicting the demand.

Therefore the correct option is (a)

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3 years ago

Nearly _______ of a take-home budget involves the three categories of housing, transportation, and food.

Ahat [919]

The answer that would best complete the given statement above is the word TWO-THIRDS (2/3). Nearly two-thirds of a take-home budget involves the three categories of housing, transportation, and food. Hope this is the answer that you are looking for. Have a great day!

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3 years ago