Legacy Planning â Dynasty Trust. A dynasty trust is a long-term trust created specifically to benefit descendents of multiple generations. It offers both tax and nontax advantages because it makes the most of the generation-skipping transfer (GST) tax exemption.
B. Anatomy of the Operating Expense Provision. 1. General Statements of Intent. a) Landlord: âThe parties acknowledged that this is a net lease, and the fixed rent set forth above is intended to be payable to the Landlord net of all costs and expenses of ownership and operation of the Building.â b) Tenant.
From Wikipedia, the free encyclopedia. Operating costs are the expenses which are related to the operation of a business, or to the operation of a device, component, piece of equipment or facility. They are the cost of resources used by an organization just to maintain its existence.or a commercial enterprise, operating costs fall into two broad categories: 1  fixed costs, which are the same whether the operation is closed or running at 100% capacity. 2  Fixed Costs include items such as the rent of the building. 3  These generally have to be paid regardless of what state the business is in.