Understanding Crummey Trusts After setting up a Crummey Trust, the grantor deposits assets into it. At that point, beneficiaries are informed of the contribution by a Crummey letter (or notice).

When estate planning, it is critical to know who is the grantor of a trust, as it can significantly impact financial planning and estate strategy. As the individual who establishes a trust, the ...

Addressing what they call such examples of "grantor trust abuse" could raise as much as $5 billion a year in taxes, the senators write, citing a Bloomberg report.

Three benefits provided by grantor trusts have recently been in the crosshairs of Democratic Senators Bernie Sanders, Elizabeth Warren, and others in their battle to limit tax avoidance by the ...

Under federal tax law, there are significant differences between grantor and non-grantor trusts. Grantor trusts are treated as disregarded entities. In layman’s terms, this means that the ...

Several Senators (Warren, Whitehouse, Sanders and Van Hollen) sent a letter to the IRS this week urging the IRS to make various changes to grantor trust rules. These Senators have sent similar ...

The American Institute of CPAs sent letters to the Treasury and the IRS asking for filing relief for taxpayers affected by major disasters and for more guidance on information returns for grantor ...

This is a form of irrevocable trust where the asset involved is the death benefit of the grantor’s life insurance policy.

Until recently, there was a fair amount of comfort amongst practitioners that, when structured correctly, utilizing a tax reimbursement clause for a grantor trust did not produce any negative U.S ...

Cheryl Kehoe Schaul and Kathryn Kaler of Neal Gerber Eisenberg discuss estate planning with the intentionally defective grantor trust or IDGT, and ways to minimize taxes.

An irrevocable life insurance trust (ILIT) helps minimize estate and gift taxes, provides creditor protection, and protects government benefits.

When estate planning, it is critical to know who is the grantor of a trust, as it can significantly impact financial planning and estate strategy. As the individual who establishes a trust, the ...