Trusts can offer people control and protection but the taxation position can be “complex”, according to a wealth management expert. Housing Secretary Angela Rayner has faced mounting pressure after it ...

Higher exemptions and new state tax rules mean many legacy trusts now create problems instead of solving them for clients ...

Additionally, under certain circumstances, trust property may be included in a decedent’s estate for estate tax purposes. In this case, Federal Form 706 — United States Estate (and Generation-Skipping ...

Jim Farmer is Managing Partner of Financial Strategies Group, a leader in the insurance industry providing clients with practical solutions. While these attempts have been unsuccessful so far, for ...

So the moral of this tax tale is that you have to be careful about making sure you file the right tax form to get what you want. We’ll elaborate a bit on the key point in the case to provide more ...

In Estate of Evans v. Dept. of Rev. (368 OR 430, July 29, 2021), the estate of Helene Evans appealed from the Oregon Tax Court’s determination that a qualified terminable interest property (QTIP) ...

The IRS issued final regulations on the controversial question of which costs incurred by trust and estates are subject to the 2% floor on miscellaneous deductions under Sec. 67(a) (T.D. 9664). The ...

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 ...

Unless specific conditions are met, all trusts (other than bare trusts) are required to file a T3 return including Schedule 15 for taxation years ending in 2025. It's important to review the trust ...