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What are the benefits of having an irrevocable trust?
The property is no longer vulnerable to your creditors, your heirs or your personal income taxes. After a waiting period, it cannot be used to disqualify you from entitlements. You can choose how the income will be distributed and how the property will eventually be distributed when the trust is terminated. However, you cannot get the property back. An irrevocable trust should be drafted by an expert in trust law.
Rental property of decedent is sold by estate. Who gets the rental income collected by estate from date of death to date of sale?
The rental income becomes part of the estate and will be distributed according to the terms of the will to the beneficiaries or to the next of kin if there was no will.
What are characteristics of a developed country?
There characteristics of a developed country are so many. Some of them include good infrastructure, large population is educated, wealth and income is fairly distributed among others.
What is a Lorenz curve?
The Lorenz curve was developed by Max O. Lorenz. The Lorenz curve is a visual representation in economics which displays the income distribution of a nation graphically. On the y-axis, you have income distribution (either as a percentage, or in decimal form); on the x-axis, there is population distribution of total wealth. There is an upward sloping, 45 degree reference line that shows perfectly equal distribution of wealth (i.e 25% of the lowest income earners have 25% of the nation's income). From the Lorenz curve, you can calculate the Gini coefficient; the closer the coefficient is to zero, the more distributed the income of a nation is.
What is a commonly used gauge to determine the distribution of income in any given country?
In the US and abroad, the so called poverty rate is often used as a measure of how well income is distributed. This works to a good degree in more developed economies, more so than in impoverished nations where it can be said that basically everyone is suffering from poverty.
What is the strength of a circular flow chart?
To show where income is distributed from external and internal factors To show where income is distributed from external and internal factors
Can a revaluation reserve be classed as income and thus be distributed back to shareholders?
No.
How to calculate net income when cash dividend is given?
Cash dividend paid has nothing to deal with net income as net income is calculated first and after that it is distributed. If cash dividend is received then it is included in net income calculations and increases the net income.
What does the decline in gini coefficient indicate?
It would indicate that income is being distributed more equitably.
What are two types of income distribution?
Two types of income distribution are equal income distribution, where all individuals receive the same amount of income, and unequal income distribution, where income is not equally distributed among individuals resulting in some earning more than others.
Is income in the US distributed evenly or unevenly?
Income in the US is unevenly distributed, with a small percentage of the population holding a large portion of total income. Income inequality has been increasing over recent decades, with factors such as technological advancements and globalization contributing to this trend.
Does retained earnings go on the income statement?
Retained earning is that part of profit which is not distributed to share holders so it is not part of income statement rather it is part of balance sheet.
What does Disparity of Income Distribution mean?
it means distribution of income is how a nation's total economy is distributed amongst its population. Classical economists are more concerned about factor income distribution,that is the distribution of income between the factors of production,labor land and capital. Distribution of income is measured by Lorenz curve and Gini co
How Budgets are made?
Budgets are made by looking at the income and the expenses of an individual or entity. They state how the money will distributed over the expenses.
What are the benefits of having an irrevocable trust?
The property is no longer vulnerable to your creditors, your heirs or your personal income taxes. After a waiting period, it cannot be used to disqualify you from entitlements. You can choose how the income will be distributed and how the property will eventually be distributed when the trust is terminated. However, you cannot get the property back. An irrevocable trust should be drafted by an expert in trust law.
What income guidelines are established to receive childcare vouchers?
Childcare vouchers are distributed to qualifying families by their representative states. The states determine the amount of assistance a family will receive based on their income and the current demand for assistance.
Rental property of decedent is sold by estate. Who gets the rental income collected by estate from date of death to date of sale?
The rental income becomes part of the estate and will be distributed according to the terms of the will to the beneficiaries or to the next of kin if there was no will.
