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Primary Article

The Problems With Unitrusts

James P. Garland
The Journal of Wealth Management Spring 1999, 1 (4) 35-42; DOI: https://doi.org/10.3905/jwm.1999.320342
James P. Garland
President of The Jeffrey Company in Columbus, Ohio.
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Abstract

The author looks into the issue of income distribution in a trust context. He highlights the recent trend away from distribution rules based on accounting income (interest and dividend), toward rules that provide for a set percentage of the trusts markets value to be paid out to income beneficiaries. The author discusses both the benefits and the dangers of these new unitrusts. He concludes that, on balance, unitrusts do not seem to be a good idea, both because now is the wrong time to consider them, and linking current distributions to current market values is unnecessary and can be unproductive. The author proposes an alternative solution, though departing from a strict interpretation of the standard accounting income rule, and avoiding the pitfalls of a total return distribution approach.

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The Journal of Wealth Management
Vol. 1, Issue 4
Spring 1999
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The Problems With Unitrusts
James P. Garland
The Journal of Wealth Management Jan 1999, 1 (4) 35-42; DOI: 10.3905/jwm.1999.320342

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The Problems With Unitrusts
James P. Garland
The Journal of Wealth Management Jan 1999, 1 (4) 35-42; DOI: 10.3905/jwm.1999.320342
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