“Nongrantor” trusts are trusts which aren’t taxed to a substantial owner pursuant to the grantor trust rules. Such a trust must file its own tax return and the income of the trust would be taxed to it, unless … [Read more...] about Taxation of Nongrantor Trusts
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Tax Reporting with Trusts
Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Nongrantor trusts are trusts which are not … [Read more...] about Tax Reporting with Trusts
Dangers of Do-It-Yourself Estate Planning
Occasionally, those who are not Estate Planning attorneys will attempt to do their own Estate Planning. Perhaps they’ll go online and get a document to use. Unfortunately, Estate Planning is about far more than a … [Read more...] about Dangers of Do-It-Yourself Estate Planning
Medicaid, Home Ownership, and the Caregiver Child Exemption
You should be concerned about potential long-term care costs when you are evaluating your future expenses. The majority of elders in the United States will need some type of living assistance, and 35 percent of American … [Read more...] about Medicaid, Home Ownership, and the Caregiver Child Exemption
A Trust Can Be Used to Achieve Targeted Objectives
There are many different tools in the estate planning toolkit. As a layperson, there is no reason why you would have a thorough understanding of every option that is available to you. This is why you should definitely … [Read more...] about A Trust Can Be Used to Achieve Targeted Objectives
