A Crummey Trust allows people to give gift-tax-free financial gifts to beneficiaries, retain some control over those gifts, and reduce their taxable estates, ...

A few examples of the powers that a trust maker can keep over the trust, so that the trust qualifies for grantor status and trust income is taxed to the trust maker, include generally: powers to ...

This considers IRS Chief Counsel Memorandum AM 2023-006, regarding non-grantor irrevocable complex discretionary spendthrift trusts.

Consider, for example, an asset with a basis of $10 and a fair market value of $100. If the asset is gifted to an IDGT during the lifetime of the grantor, it retains a basis of $10.

When making an estate plan, using a trust is a way to make passing assets - including both cash and physical assets - a bit easier. In fact, when using a trust, you can often allow your family to ...

A family trust is a trust that benefits the children, grandchildren, siblings, spouse or other family members of the person establishing the trust (the "grantor”).