When estate planning, it is critical to know who is the grantor of a trust, as it can significantly impact financial planning and estate strategy. As the individual who establishes a trust, the ...

The key difference between a grantor trust and a non-grantor trust is how taxes are handled. In a grantor trust, the person who created the trust reports all trust income on their own tax return. In a ...

Depending on one’s personal situation, the choice between a grantor and non-grantor trust may be difficult and confusing to understand. After reading this article, someone making this decision will ...

If the assets of an irrevocable grantor trust are not included in grantor’s gross estate upon his or her death, those assets do not get a Sec. 1014 basis step-up, the IRS clarified Wednesday in Rev.

Many articles have been written on planning with both grantor and non-grantor trusts for gift, estate and income tax planning purposes. Most articles focus on grantor trusts because of the flexibility ...

January 13, 2023 - Irrevocable grantor trusts (also known as "intentionally defective grantor trusts" or "IDGTs") are one of the most effective and popular estate planning tools for families to shift ...

A grantor trust is trust where the grantor, or in some cases another person, is treated as the owner of the trust for federal income tax purposes. Items of income, deduction and credits of a grantor ...

June 21, 2023 - On March 30, 2023, the Internal Revenue Service issued Revenue Ruling 2023-2, which directly impacts a wide range of irrevocable trusts, including grantor retained annuity trusts, ...