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.
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. 1  1 Business operating costs.  2 Business overhead costs.