A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article by my friend and colleague Steve Hartnett, an estate planning expert, examines a nongrantor trust and situations in which it might be useful.
Nongrantor Trusts Can Be Very Useful in Certain Situations
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
Latest posts by Timothy P. Murphy (see all)
- Can I Be the Trustee of My Own Living Trust? - July 2, 2020
- Last-Minute Medi-Cal Planning - June 25, 2020
- Top 4 Estate Planning Mistakes to Avoid Making - June 23, 2020
