Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more.
Stephen is a member of the American Academy of Estate Planning Attorneys (AAEPA), a national organization serving the needs of legal professionals concentrating on estate planning. He was on the national Board of Governors for the AAEPA and is the only AAEPA member in Vermont Read More!
Latest posts by Stephen Hartnett (see all)
- What Taylor Swift Can Teach Us About Estate Planning - April 23, 2024
- What You Need to Know about the Corporate Transparency Act - March 19, 2024
- There’s No Better Way to Say “I’ll Be There for You” than with an Estate Plan - February 13, 2024
