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Home / Archives for taxation

taxation

Consequences of Modifying an Irrevocable Trust

July 15, 2019 by Yvonne Novak

Consequences of Modifying an Irrevocable Trust

Irrevocable trusts often can be modified. They can be modified under the Uniform Trust Code or a state law decanting. While these modifications may be determinative of the state law consequences, they may not determine federal tax consequences. Read on to learn more. Consequences of Modifying an Irrevocable Trust … [Read more...] about Consequences of Modifying an Irrevocable Trust

Filed Under: Estate Planning, Legal Education Tagged With: Bosch, decanting, modification, taxation, Uniform Trust Code

Nongrantor Trusts Can Be Very Useful in Certain Situations

January 31, 2019 by Yvonne Novak

trusts

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 … [Read more...] about Nongrantor Trusts Can Be Very Useful in Certain Situations

Filed Under: Estate Planning, Legal Education Tagged With: QBI deduction, SALT deduction, taxation, trust

Grantor Trusts Provide Flexibility and Ease

January 15, 2019 by Yvonne Novak

trusts

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 grantor trust and situations in which it might be useful. Grantor Trusts Provide Flexibility and Ease … [Read more...] about Grantor Trusts Provide Flexibility and Ease

Filed Under: Estate Planning, Legal Education Tagged With: estate tax, gift tax, step-up, taxation, trust

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Law Office of Yvonne Michaud Novak

Law Office of Yvonne Michaud Novak
202 West Superior Street, Suite 303
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United States (US)
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