TITLE

Creating Grantor Trusts

AUTHOR(S)
Gallo, Jon J.
PUB. DATE
August 2010
SOURCE
Journal of Financial Planning;Aug2010, Vol. 23 Issue 8, p38
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on grantor trusts and how they are created. It says that a grantor trust is legitimate under state law and is acknowledged by the IRS for purposes of the property, gift, and generation-skipping taxes. It further reveals that one of the most complex issues in some estate plans is choosing the specific approach that will result in a trust classified as a grantor trust for income tax purposes without causing unfavorable estate tax outcomes. Several ways to create grantor trust status without causing the assets of the trust to be integrated in the grantor's gross are also presented.
ACCESSION #
52871831

 

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