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.
In business, the term operating expense (OPEX) appears in budgeting and spending, but also as an Income statement term in financial accounting. In brief, operating expenses include most expenditures for operating the firm's normal line of business, which are not capital spending. Operating expenses do not result in capital assets.