It's possible for transfers to a trust to be completed gifts for gift and estate tax purposes, even though that trust may still be treated as a grantor trust for income tax purposes, so that the ...

An early version of the grantor trust rules was enacted in the 1920s. The rules were designed to prevent taxpayers from transferring to a trust income-producing assets that would be taxed at a high ...

On September 13, the U.S. House of Representatives Ways and Means Committee released its markup of the proposed revenue raisers (tax increases) to fund President Joe Biden’s broader “Build Back Better ...

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 ...

Grantors of Pennsylvania irrevocable trusts may now elect to pay the income taxes on the trusts’ income under the recently signed Act 64 of 2023, provided that such trusts qualify as “grantor trusts” ...

The IRS has ruled that for federal estate tax purposes a long-used basis adjustment under Sec. 1014 generally doesn’t apply to the assets of an irrevocable grantor trust that aren’t included in the ...

Learn how trust funds work, their benefits, and the differences between revocable and irrevocable funds. Understand how they manage and protect assets for beneficiaries.