Читать книгу Form 1041 - Stephen Brooks - Страница 14

A trust must have definite beneficiaries. A beneficiary is definite if the beneficiary can be determined, either now or in the future. If the trustee has the power to select a beneficiary from an indefinite class, that is valid. If the power is not exercised within a reasonable time however, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred. Many dynasty trusts are created with the intent to benefit all future generations for as long as the trust can exist, as governed by the applicable state law.