LO.1,2,3 Complete the following chart, indicating the comparative attributes of the typical trust and estate by answering yes/no or explaining the differences between the entities where appropriate.

Attribute	Estate	Trust
Separate income tax entity
Controlling document
Can have both income and remainder beneficiaries
Computes entity accounting income before determining entity taxable income
Termination date is determinable from controlling document
Document identifies both income and remainder beneficiaries
Generally must use calendar tax year