5.02 Substantially Equal

State:
Multi-State
Control #:
US-JURY-7THCIR-5-02
Format:
Word
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Description

Official Pattern Jury Instructions adopted by Federal 7th Circuit Court. All converted to Word format. Please see the official site for addional information. www.ca7.uscourts.gov/pattern-jury-instructions/pattern-jury.htm 5.02 Substantially Equal is an IRS tax code which states that equal payments must be made to all beneficiaries of a trust. This code applies to trusts where the payments are made in a series of substantially equal payments over a period of time. The payments must be made in accordance with the terms of the trust instrument, and the payments must be in equal amounts, and must be made in equal intervals of time. There are two types of 5.02 Substantially Equal: the 5.02(a) Substantially Equal Periodic Payment (SEPT) and the 5.02(b) Substantially Equal Unit rust Payment (SETUP). The SEPT requires that payments be made at least annually and the SETUP requires that payments be made at least quarterly.

5.02 Substantially Equal is an IRS tax code which states that equal payments must be made to all beneficiaries of a trust. This code applies to trusts where the payments are made in a series of substantially equal payments over a period of time. The payments must be made in accordance with the terms of the trust instrument, and the payments must be in equal amounts, and must be made in equal intervals of time. There are two types of 5.02 Substantially Equal: the 5.02(a) Substantially Equal Periodic Payment (SEPT) and the 5.02(b) Substantially Equal Unit rust Payment (SETUP). The SEPT requires that payments be made at least annually and the SETUP requires that payments be made at least quarterly.

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5.02 Substantially Equal