by FamilyTrust | Mar 21, 2014 | Asset Protection, Taxes, Trust & Estate Blog, Trust Tax, Trusts and Estates
We recently discussed changes proposed in President Obama’s 2015 budget that would modify Estate and Gift Tax provisions established in the American Taxpayer Relief Act or ATRA, which was passed by Congress in 2013. The proposal, which would take effect in 2018,...
by FamilyTrust | Feb 26, 2014 | Estate Tax Exemptions, Trust & Estate Blog, Trust Tax
An article published on Bloomberg’s website BNA.com reported on recent changes to the tax laws that make some trusts’ previously-exempt net investment income taxable in 2014. According to the report, Adrienne Mikolashek, an attorney with the IRS Office of...
by FamilyTrust | Oct 16, 2013 | Trust Tax
In addition to federal and state income and capital gain taxes and state inheritance, death and estate taxes that may apply, here are really two separate federal transfer tax structures that may apply when leaving assets to family- the Lifetime Gift & Estate...
by FamilyTrust | Sep 10, 2013 | Do-It-Yourself Estate Plan, Family Trust Documents, Set Up Family Trust, Trust Tax
To help you set-up an irrevocable family trust, here are a few IRS links for information about acquiring a Taxpayer Identification Number (TIN) and for downloading the required W-9 form: U.S. Taxpayer Identification Number Requirement Taxpayer Identification Numbers...
by FamilyTrust | Sep 10, 2013 | Definitions, Irrevocable Trusts, Revocable Living Trust, Trust Tax
An irrevocable trust cannot be changed. It is a trust that, by its terms, can’t be changed except by terms that might be written into the irrevocable trust. It must operate according to whatever are its terms. An irrevocable trust is typically set in a...
