Revocable Inter Vivos Trusts, 860-2nd Tax Management Portfolio (2018)

Title

Revocable Inter Vivos Trusts, 860-2nd Tax Management Portfolio (2018)

Files

Description

This Portfolio first addresses the requirements for a valid and effective revocable trust, how and when the trust may be revoked, what constitutes a valid and adequate trust corpus, and when a revocable trust may be expected to achieve significant estate planning benefits. It then addresses the various uses to which a revocable trust may be applied, focusing on when a revocable trust will be the most appropriate vehicle to accomplish each purpose. The Portfolio then addresses the income and wealth transfer tax issues raised by the use of a revocable trust, including when a revocable trust must obtain a taxpayer identification number and file federal income tax returns, when a revocable trust will be treated as an independent entity for income or wealth transfer tax purposes, the effect of holding stock options or subchapter S stock in a revocable trust, and how and when to elect to have a revocable trust treated as part of a decedent’s estate for federal income tax purposes.

Publication Date

2018

Publisher

Bloomberg Tax

Disciplines

Estates and Trusts | Law | Taxation-Federal Estate and Gift | Tax Law

Revocable Inter Vivos Trusts, 860-2nd Tax Management Portfolio (2018)

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