by Joel Roettger | Nov 13, 2018 | Estate Planning, Probate, Tax, Trusts
No, but you would not know that from reading the statute. The 65-day rule is a taxpayer-friendly provision involving the income taxation of trusts and estates. It allows the trustee of a trust or executor of an estate to treat certain distributions made in one tax...
by Joel Roettger | Nov 12, 2018 | Estate Planning, Trusts
Termination of a trust is like dissolution of a business organization. In both cases, there is a winding up period before the entity legally ceases to exist. Usually, this means paying any outstanding trust obligations, liquidating assets, filing final income tax...
by Joel Roettger | Aug 21, 2018 | Estate Planning, Trusts
If you are considering converting an income-only trust to a unitrust, think again. As the name suggests, an income-only trust is one in which the current beneficiary has access to the net income, but not the principal, of the trust. Once a common feature of the trust...
by Joel Roettger | Jul 19, 2018 | Estate Planning, Tax, Trusts
Wife transfers property to a trust for the benefit of Husband. The trust is intentionally structured so as not to qualify for the gift tax marital deduction. Wife files a gift tax return in connection with the gift, and Husband consents to split the gift. Husband is...
by Joel Roettger | Apr 17, 2018 | Estate Planning, Tax, Trusts
$1 - $2,54910% $2,550 - $9,149$255 plus 24% of the excess over $2,550 $9,150 - $12,499$1,839 plus 35% of the excess over $9,150 > $12,500$3,011.50 plus 37% of the excess over $12,500 These numbers will be adjusted annually for inflation based on the chained consumer...
