Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Nongrantor trusts are trusts which are not grantor trusts. But, what is the tax reporting for grantor and nongrantor trusts? My friend and colleague Steve Hartnett, an estate planning expert, has written an informative blog on the subject. Read on to learn more.
- Estate Planning for Small Business Owners - March 25, 2023
- The Consequences of Not Having an Estate Plan - March 23, 2023
- Estate Planning for Same-Sex Couples: Key Considerations - March 21, 2023