Estates - Types of Trusts

TOPICS / ESTATES

May 31, 2025

ING trusts: How they work and their continued viability

Properly established and maintained, an incomplete gift nongrantor trust may play a valuable role in some clients’ estate plans

April 30, 2025

Early terminations of QTIP trusts: The cautionary case of McDougall

Qualified terminable interest property trusts can be useful, but care must be taken to avoid running afoul of their requirements, as a recent Tax Court case illustrates.

January 1, 2025

Proposed regulations update QDOT regulations

Changes to the qualified domestic trust regulations under Sec. 2056A would include defining when the value of assets passing to the trust is “finally determined.”

August 1, 2024

A trust is not always a trust for federal income tax purposes

Whether an entity that purports to be a trust is treated as one or as a nominee depends on the facts and circumstances.

June 1, 2024

Recent CCA raises concerns for irrevocable grantor trust modifications

A Chief Counsel Advice memo holding that adding a tax reimbursement clause to an irrevocable grantor trust will constitute a taxable gift by the beneficiaries to the grantor raises a host of questions that taxpayers and advisers should consider before modifying a trust.

December 1, 2023

Converting from a QSST to an ESBT, or vice versa

Qualified Subchapter S trusts and electing small business trusts have distinct uses and advantages; fortunately, converting one to the other can be painless.

November 1, 2023

Rev. Rul. 2023-2’s impact on estate plans

Depending upon the size of their estate, as well as other factors, an irrevocable trust may still be the best answer.

September 1, 2023

IRS signals it will challenge IDGT basis step-up at death

The IRS recently published Rev. Rul. 2023-2, which publicly announced that the Service will be challenging a basis step-up for assets in intentionally defective grantor trusts.

May 1, 2022

Trusts as S corporation shareholders

Generally, a trust cannot hold stock of an S corporation; however, grantor trusts, testamentary trusts, voting trusts, ESBTs, and QSSTs are permissible S corporation shareholders (Sec. 1361(c)(2)).

May 1, 2022

Trusts for holding S corporation interests: QSSTs vs. ESBTs

This article compares the relative advantages and disadvantages of a QSST versus an ESBT in estate planning.

December 1, 2021

Planning with charitable lead trusts

Today’s low interest rates make charitable lead trusts a more powerful option for tax-efficient estate planning.

November 11, 2021

Helping a client benefit from an intentionally defective grantor trust

These trusts can be advantageous to wealthier clients, but their future use in estate planning is threatened by current legislative proposals.

November 1, 2021

The grantor trust rules: An exploited mismatch

This article discusses the history of the grantor trust rules, how they are exploited to avoid taxes, and ways the rules might be reformed to prevent them from being used for tax avoidance.

October 1, 2021

Recent developments in estate planning: Part 1

This first part of this annual update focuses on trust and gift tax issues.

June 1, 2021

Planning with revocable trusts after the grantor’s death

This article focuses on the key tax and reporting areas applicable to revocable trusts and the associated planning and pitfalls that arise at the grantor’s death.

March 25, 2021

Revocable trusts and the grantor’s death: Planning and pitfalls

This article focuses on the key tax and reporting areas applicable to revocable trusts and the associated planning and pitfalls that arise at the grantor’s death.

October 1, 2020

Recent developments in estate planning: Part 1

This first part of the annual update covers trust and gift tax issues, including regulations explaining deductions permitted for trusts and estates after the TCJA eliminated miscellaneous itemized deductions for individuals.

April 16, 2020

Inherited IRA strategies after the SECURE Act

This article discusses alternatives to the stretch IRA.

March 1, 2020

Seize the increased basic exclusion amount

Taxpayers can obtain unique benefits when it comes to gift and estate tax planning by using trusts and taking advantage of applicable valuation conventions.

November 1, 2019