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American College Exam HS330 Topic 1 Question 74 Discussion

Actual exam question for American College's HS330 exam
Question #: 74
Topic #: 1
[All HS330 Questions]

Which of the following statements concerning a simple trust is (are) correct?

l. All income must be distributed as earned to the person or persons who are beneficiaries of the trust.

II. Principal and income may be distributed to a qualified charity.

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Suggested Answer: B

by Salome at Sep 02, 2023, 11:16 PM

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Lenita
1 days ago
I'm not sure about this one. I think I need to review the material again.
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Tresa
3 days ago
I agree with Daniel. Simple trusts can distribute both income and principal to qualified charities.
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Veronika
8 days ago
I think the correct answer is C. Both statements are correct for a simple trust. The trust can distribute income to the beneficiaries, and it can also distribute principal and income to a qualified charity.
upvoted 0 times
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Daniel
11 days ago
I think the correct answer is C) Both l and II.
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