Poor Planning Can Lead to Double Taxation of Trusts

Poor Planning Can Lead to Double Taxation of Trusts

Different states have different rules for determining whether a trust is a “resident” for income tax purposes. State tax liability can depend on the location of settlors, trustees, or beneficiaries. In some situations, a trust could be liable for taxes in multiple...
Rising Rates Add to the Appeal of CRTs

Rising Rates Add to the Appeal of CRTs

If you are philanthropically inclined, have you considered establishing a charitable remainder trust (CRT)? These irrevocable trusts provide a variety of tax and financial perks. Plus, unlike some other tax planning tools and strategies, CRTs can benefit from today’s...
The Benefits of Charitable Remainder Trusts

The Benefits of Charitable Remainder Trusts

A charitable remainder trust (CRT) is an irrevocable trust set up to benefit a charitable organization. The trust’s term is one lifetime, several lifetimes, or a period not to exceed 20 years. Basically, you irrevocably gift an asset to the CRT, usually an asset with...