Search for: "The General Income Trust "
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7 Mar 2011, 12:13 pm
Granting an income beneficiary a general power of appointment is just one way practitioners can err in drafting a see-through trust. [read post]
19 Apr 2016, 11:31 am
In Florida a home is generally not available to creditors. [read post]
31 Jul 2022, 5:48 pm
The trust’s income is treated as Italian source or foreign source income depending on the tax residency (i.e., place of establishment or administration) of the trust, and falls within its own category (income from trust) and is taxed as general (or ordinary) income at graduated rates. [read post]
25 Jul 2014, 6:59 am
The retiree who needs income for a decade before taking mandatory withdrawals can easily work with a charitable remainder trust. [read post]
22 Mar 2015, 4:25 pm
By selling the house and investing the proceeds in an income-generating asset (such as a mutual fund), the trust could start earning income for the wife—the trust's beneficiary—rather than continuing to subsidize losses. [read post]
9 May 2022, 9:45 am
Typically assets in an irrevocable trust are not considered part of an estate, not subject to estate taxes and the grantor does not have to pay taxes on income generated by the trust during their lifetime. [read post]
2 May 2014, 2:48 am
Generation-Skipping TrustThis trust is used to give money to your grandchildren. [read post]
30 Aug 2016, 5:24 pm
Any undistributed income generated by the assets in the trusts (e.g., once you pass on and they become irrevocable) will be taxed as income accordingly. [read post]
27 Aug 2013, 10:26 am
Living trusts will not protect you from any state or federal estate, gift, inheritance, or generation-skipping transfer taxes. [read post]
17 Sep 2015, 9:23 am
The general benefits of a trust If one of your goals in estate planning is to ensure that more of your property and money is left to your beneficiaries, as opposed to being reduced by estate taxes, then a trust may be a great option. [read post]
19 Nov 2023, 5:01 pm
Registering the trust: In Pennsylvania, trusts do not need to be registered with any government agency unless they involve real estate or generate taxable income. [read post]
30 Nov 2015, 8:30 am
The QTIP trust gives a stream of income produced from a trust to a surviving spouse. [read post]
7 Oct 2021, 10:39 am
The IRS could challenge the federal income tax treatment of property owned by a Florida Community Property Trust. [read post]
1 Jun 2012, 11:38 am
(FYI—Insurance proceeds are generally not subject to income tax, but they may be subject to estate tax.) [read post]
15 Sep 2014, 9:50 am
The various benefits of trusts – discussed below – often provide valuable results for people of all income levels. [read post]
15 Sep 2014, 9:50 am
The various benefits of trusts – discussed below – often provide valuable results for people of all income levels. [read post]
27 Aug 2018, 12:37 pm
The composition of UITs, generally a portfolio of bonds, stocks, and other securities, remains the same for the duration of the trust. [read post]
4 Sep 2014, 8:39 am
In modifying an irrevocable trust, a court may, among other things, amend or change the terms of the trust, including terms governing distribution of the trust income or principal or terms governing the administration of the trust. [read post]
31 Mar 2023, 7:53 pm
The trust income is part of the taxpayer’s general taxable income and is taxed at progressive rates. [read post]
1 May 2009, 11:18 am
I generally do not recommend choosing a family member as a Trust Protector, because, depending on how close the kinship is, a family member serving in that role could create income and estate tax problems due to attribution rules. [read post]
