Distributee trusts. (A) In general. This paragraph (m)(4)(iv) contains the rules for determining who are the po- tential current beneficiaries of an ESBT if a distributee trust becomes en- titled to, or at the discretion of any person, may receive a distribution from principal or income of an ESBT. A dis- tributee trust does not include a trust that is not currently in existence. For this purpose, a trust is not currently in existence if the trust has no assets and no items of income, loss, deduction, or credit. Thus, if a trust instrument pro- vides for a trust to be funded at some future time, the future trust is not cur- rently a distributee trust.
Appears in 7 contracts
Samples: www.govinfo.gov, www.govinfo.gov, www.govinfo.gov
