Such tax-avoidance vehicles include Grantor-Retained Annuity Trusts and Intentionally Defective Grantor Trusts (IDGTs), while another loophole stems from a 1980s-era IRS decision that allows the ...

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 ...

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, ...

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 ...

Grantor trusts are treated as disregarded entities ... also with initial contributions of $25,000 each. Cairns testified . . . [letters were prepared] ...

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 ...

Separately, the AICPA sent a different letter on Feb. 5 to the Treasury and the IRS asking for guidance about international information reporting for domestic grantor trusts. The AICPA wants them to ...

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

In the letter, they mention that the number of estates that have paid any estate tax have dropped in recent years. The high was 7.65 percent in 1976 (when the federal exemption was a “whopping ...

It can carry out the grantor’s wishes even after they’re gone . In an irrevocable life insurance trust, the trustee is empowered to distribute the assets according to the grantor’s wishes.

Grantor trust rules are a set of IRS regulations that determine how income generated by a trust is taxed. Under these rules, the person who creates the trust, known as the grantor, ...