Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more.
Latest posts by Larry Parman, Attorney at Law (see all)
- Older Americans Month Is an Excellent Time to Learn More about Medicaid Planning - April 18, 2019
- What Rights Do I Have As a Beneficiary of a Trust? - April 16, 2019
- Tools Overland Park Estate Planning Attorneys Help You Use - April 11, 2019