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IMPLEMENTING TOTAL RETURN TRUSTS - …

IMPLEMENTING TOTAL RETURN TRUSTSPAUL S. LEE, , Copyright 2003 by Paul S. Director, Wealth Management Group, Bernstein Investment Research & Management, based in New York,New York. I would like to sincerely thank the following individuals whose assistance, research and hard workon this project cannot be overstated: Patrick S. Boyle, CFA, CFP, Analyst in the Wealth Management Group,Alice C. Davenport, , Senior Legal Analyst in the Wealth Management Group, Daniel J. Loewy, Director ofResearch in the Wealth Management Group, Robert A.

3 e. other distribution policies ix. determining the taxation of the distributions x. methodology for implementing total return trusts

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