A grantor trust is trust where the grantor, or in some cases another person, is treated as the owner of the trust for federal income tax purposes. Items of income, deduction and credits of a grantor ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Trusts are valuable tools for estate planning. They allow ...

IRS says in a recent ruling that if you modify an irrevocable trust to add a tax reimbursement clause the beneficiaries will be deemed to have made a gift to the trust creator. In a recent Chief ...

The IRS flipped a stance the agency took seven years earlier on the question of whether certain trust distributions amount to a taxable gift. "The modification to add the tax reimbursement clause will ...

When the grantor of a trust maintains certain powers with respect to the property that’s transferred in trust, that grantor will be treated as the owner of the trust property for income tax purposes ...

Grantors of Pennsylvania irrevocable trusts may now elect to pay the income taxes on the trusts' income under the recently signed Act 64 of 2023, provided that such trusts qualify as "grantor trusts" ...

Practitioners are comfortable with and accustomed to drafting inter vivos grantor trusts and using gifts to such trusts to reduce a client’s estate tax exposure. 1 But, now that high state income ...

Estate planning has two components: the organizational (writing documents and securing funding) and the operational (what happens next as life goes on). Much emphasis is put on the organizational ...