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Home / Archives for taxation

Consequences of Modifying an Irrevocable Trust

July 26, 2019 by Michael O'Brien

Irrevocable trusts often can be modified. They can be modified under the Uniform Trust Code or a state law decanting. While these modifications may be determinative of the state law consequences, they may not determine federal tax consequences. Read on to learn more. Consequences of Modifying an Irrevocable Trust … [Read more...] about Consequences of Modifying an Irrevocable Trust

Filed Under: Estate Planning, Legal Education Tagged With: decanting, taxation, modification, Uniform Trust Code, Bosch

Grantor Trusts Provide Flexibility and Ease

January 23, 2019 by Michael O'Brien

A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a grantor trust and situations in which it might be useful. Grantor Trusts Provide Flexibility and Ease … [Read more...] about Grantor Trusts Provide Flexibility and Ease

Filed Under: Estate Planning, Legal Education Tagged With: Estate Tax, gift tax, trust, step-up, taxation

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