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.
Pension Expense. Definition: Pension expense is the amount that a business charges to expense in relation to its liabilities for pensions payable to employees.ension Expense. Definition: Pension expense is the amount that a business charges to expense in relation to its liabilities for pensions payable to employees.