News & Analysis as of

Trustees Irrevocable Trusts Income Taxes

Strafford

[Webinar] New IRS Guidance on Basis Adjustments for Irrevocable Grantor Trusts: Key Issues for U.S. and Non-U.S. Persons - June...

Strafford on

This CLE/CPE webinar will provide estate planners insight on recently issued IRS guidance regarding basis adjustments for irrevocable grantor trusts. The panelist will discuss key items and challenges stemming from Revenue...more

Husch Blackwell LLP

Understanding the Unique Benefits of Beneficiary Intentionally Defective Irrevocable Trusts (BIDITs)

Husch Blackwell LLP on

A Beneficiary Intentionally Defective Irrevocable Trust (BIDIT) provides a unique planning opportunity because it allows a beneficiary to continue to benefit from his or her own assets while maintaining some level of control...more

Adler Pollock & Sheehan P.C.

Should You Place Your Home in a QPRT?

If you own your principal residence, you may be able to benefit from its build-up in equity, realize current tax breaks and pocket a sizeable tax-exempt gain when you sell it. What’s more, from an estate planning perspective,...more

Bowditch & Dewey

When to Take Advantage of a Spousal Lifetime Access Trust (SLAT)

Bowditch & Dewey on

Under the Tax Cuts and Jobs Act, in 2020 each person may transfer up to $11,580,000 without incurring a gift or estate tax. This generous exemption amount will sunset at the end of 2025, which means that in 2026, the...more

Holland & Hart LLP

Wyoming Situs

Holland & Hart LLP on

We are seeing an increasing number of clients that want to situs trusts in Wyoming due to its favorable trust law and lack of state income tax, although over the last several months clients have also sought the open spaces of...more

Faegre Drinker Biddle & Reath LLP

Fielding Decision Creates Opportunities (and Potential Obligations) for Minnesota Trusts

On July 18, 2018, the Minnesota Supreme Court issued its decision in Fielding v. Commissioner, declaring that it was unconstitutional for the state to consider four trusts to be Minnesota “resident trusts” — and tax them...more

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