<h1 id="personal">Personal<a aria-hidden="true" class="anchor-heading icon-link" href="#personal"></a></h1>
<p>A personal trust is one where the beneficiaries do not pay for their interest in the trust</p>
<ul>
<li>ie. they receive their interest in the trust's assets as a gift</li>
</ul>
<h3 id="discretionary-trust">Discretionary Trust<a aria-hidden="true" class="anchor-heading icon-link" href="#discretionary-trust"></a></h3>
<p>A trust in which the distributions of assets will be left to the discretion of the trustee.</p>
<p>It is possible for a trust to be both discretionary and non-discretionary. This is due to the fact that distributions can be made from trust income or capital.</p>
<ul>
<li>ex. the distribution of trust income (e.g. dividend income) could be left to the discretion of the trustee, while ensuring that capital allocations are still adhered to the wishes as set out by the settlor.</li>
</ul>
<h2 id="2-types-of-personal-trust">2 Types of Personal Trust<a aria-hidden="true" class="anchor-heading icon-link" href="#2-types-of-personal-trust"></a></h2>
<h3 id="testamentary-trust">Testamentary Trust<a aria-hidden="true" class="anchor-heading icon-link" href="#testamentary-trust"></a></h3>
<p>a trust which arises upon the death of the testator</p>
<ul>
<li>specified in the will.</li>
</ul>
<h3 id="living-trust">Living trust<a aria-hidden="true" class="anchor-heading icon-link" href="#living-trust"></a></h3>
<ul>
<li>a.k.a inter-vivos trust
A trust created by a settlor while he or she is still alive
purpose is to transfer the benefit of owning assets to certain individuals, such as children, without actually passing control of the assets to them.</li>
</ul>
<p>These trusts are particularly useful in accomplishing family tax and financial objectives.</p>
<hr>
<strong>Backlinks</strong>
<ul>
<li><a href="/notes/uIDQHZPIkIey2TzhTDfto">Estate</a></li>
</ul>

Personal

thoughts-on


Welcome to my Second Brain! Here you'll find thoughts, lessons, facts and any other interesting musings that I've come across or thought up over the years. A lot of what I have gathered is originally from the minds of others, while some of it originates from myself. Some notes may contain misinformation, though I try to be rigorous with my additions.

What I have here does not necessarily reflect my thoughts and views. I collect information not based upon whether I agree with it or not, but rather when I determine it to contain some value that can be served in the future.  

You can think of this collection of inter-linked notes as my personal wiki.

This Dendron notebook is the sister vault to the tech-focused [Digital Garden](https://tech.kyletycholiz.com)

## Tags
Throughout the Second Brain, I have made use of tags, which give semantic meaning to the pieces of information.

- `ex.` - Denotes an *example* of the preceding piece of information
- `spec:` - Specifies that the preceding information has some degree of *speculation* to it, and may not be 100% factual. Ideally this gets clarified over time as my understanding develops. I try to go back after I have better understood the topic and clear out the notes of `spec:` tags
- `anal:` - Denotes an *analogy* of the preceding information. When I can, I attempt to link concepts to others that I have previously learned.
- `mn:` - Denotes a *mnemonic* to aid in memorization
- `expl:` - Denotes an *explanation*

## Resources
### UE (Unexamined) Resources
Often, I come across sources of information that I believe to be high-quality. They may be recommendations or found in some other way. No matter their origin, I may be in a position where I don't have the time to fully examine them (and properly extract notes), or I may not require the information at that moment in time. In cases like these, I will add reference to a section of the note called **UE Resources**. The idea is that in the future when I am ready to examine them, I have a list of resources that I can start with. This is an alternative approach to compiling browser bookmarks, which I've found can quickly become untenable.

### E (Examined) Resources
Once a resource has been thoroughly examined and has been mined for notes, it will be moved from *UE Resources* to *E Resources*. This is to indicate that (in my own estimation), there is nothing more to be gained from the resource that is not already in the note.

### Resources
This heading is for inexhaustible resources. 
- A prime example would be a quality website that continually posts articles- another example would be a tool, such as software that measures frequencies in a room to help acoustically treat it.
