dmertz, thanks for the reference! One thing that is interesting is that the Trust does not use the words “Conduit” or “Accumulation” anywhere. Does that surprise you? My understanding is that “Conduit” usually means doing distributions through K-1’s issued to Beneficiaries but the “Accumulation” Trust won’t and for this type of distributions the Trust would pay a much higher tax rate as any income accumulated within the Trust.
