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A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a nongrantor trust and situations in which it might be useful.
Nongrantor Trusts Can Be Very Useful in Certain Situations
Yvonne Novak
Yvonne M. Novak received her Bachelor of Arts Degree from the College of St. Scholastica and her Law Degree (Juris Doctor) With Distinction from the University of North Dakota School of Law. Prior to opening her law firm, she worked as a paralegal, investment representative, and licensed nursing home administrator
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