Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The net income of the Sydney Trust is AUD$ 2 5 0 , 0 0 0 , 0 0 0 . You are provided with
The net income of the Sydney Trust is AUD$ You are provided with information regarding the trust's beneficiaries in the table below. Based on the information, who would be considered to be presently entitled? Name Income entitlement Notes a Diana Diana is years of age. She no longer has a claim on the trustee as her share of the income was used pay her school fees. b William This entitlement is for as long as he remains in Australia. William has not left the country, nor does he intend to leave the country for the immediate future. c Elizabeth Elizabeth has an entitlement as long as she gets a degree. She is halfway through her degree and is doing well. She has no intention to give upd Harry Harry has disappeared! No one knows where he is or how to contact him. e Kate Harry. Kate is not one of the nominated beneficiaries, but is the wife of t Megan Residual Megan is entitled to whatever is left over after all the other beneficiaries. Selected answer will be automatically saved. For keyboard navigation, press updown arrow keys to select an answer. a Only a and b b Only abd and f c Only de and f d No one is presently entitled to the income of the trust estate based on the information provided
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started