Questions tagged [trusts]

An organisation set-up to manage funds perputally.

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1answer
553 views

Grantor Tax Information Letter

Why do some trusts issue a Sch K-1 for the beneficiaries, while others only a "Grantor tax information letter"?
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2answers
168 views

Is Quit Deed all I need?

I would like to get the title of my late grandparents house out of his trust, and into my name (Grandson) and my uncle's(Son) name. Should I get a lawyer or is this really all I need. Its Illinois ...
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0answers
24 views

Is it possible to change the second (or residual) beneficiary of a CRUT?

A CRUT is a Charitable Remainder Unitrust, which usually has as its first beneficiary the person who set up the CRUT (the settlor), and which may (but is not obliged to) have as a second beneficiary a ...
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0answers
91 views

Tax implications of reparceling property that was gifted from a trust

I am buying a second home on one full lot and the 1/2 vacant lot next to it. Both are part of a trust. We can't get a single loan to cover both because our lender will not do a bridge loan covering ...
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3answers
1k views

Will: Leaving property to beneficiaries until their deaths only

I am in the process of writing my will and overall it's a very simple one, apart from one thing: I would like to leave some money for my brother to help him take care of my parents until they die. ...
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2answers
150 views

What are the tax consequences of transferring a house out of a trust to my two daughters?

I currently have my house in a revocable living trust with my two daughters as beneficiaries. Are there any tax consequences to transferring the house into their names now before I am deceased?
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2answers
52 views

Trust vs. Foundation vs. DAF

Is there a mechanism by which you can put aside a lump sum of money (before or after your passing) wherein the money can just sit and earn interest in a safe investment in perpetuity and disbursements ...
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1answer
92 views

Can I avoid state trust tax with a conditional gift?

My state taxes resident trusts. A resident trust is any of the following: a. Its settlor (or any of its settlors) was a state resident at the time the trust was created; or b. All ...
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1answer
259 views

High risk investment [closed]

I have a spare £500 I do not mind losing too much. But, I do not just want to throw it away. I have found high risk investments like this one from JP Morgan Chase, and over the past few years all ...
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1answer
303 views

International Inheritance via Trust

My mother is an American citizen living in California - she has had dementia for many years and is legally incompetent to manage her money, but before she was ruled incompetent she put me on as a ...