Choosing a trust to hold assets as part of a general estate plan or special needs planning for an individual with disabilities is an important decision, and one size does not fit all.
Whether you are doing lifetime planning for yourself, or inheritance planning for someone you love, knowing the income tax rules – meaning who will pay the tax — depends on what goes into the trust, what the trust says, who created it, who can benefit from it, and when and what comes out of the trust.
The following articles offer a general primer on the taxation of trusts used for estate and special needs planning, and the treatment of different types of assets used to fund a trust. Before undertaking planning, it is important to speak with a knowledgeable attorney to address your specific questions.
- Tax Considerations When Moving to Another State September 2022
- The SECURE Act – How It Affects Special Needs Planning and Special Needs Trusts August 2021
- Taxes Can Get Complicated for Families with Special Needs March 2020
- Tax Law Changes for Those with Disabilities March 2019
- The Impact of Tax Reform on Special Needs Planning March 2018
- Retirement Funds and SNTs January 2017
- Tax Tips for Parents of a Child with Special Needs April 2014
- End-of-Year Tax Considerations December 2013
- Tax Planning for Families With Special Needs November 2013
- Tax Considerations in Personal Injury Settlements June 2013
- Tax Tips for Families with Special Needs February 2013
- Charitable Intentions – Uncharitable Results July 2012
- Is a Qualified Disability Trust Appropriate? February 2012
- Planning Options With Retirement Benefits September 2010
- Retirement Accounts and Government Benefits September 2010
- Crummey Doesn’t Mean Lousy August 2010
- Taxes and Special Needs Trusts February 2010
- Medicare Premium Rules Will Affect Some Large Trusts January 2010
- Special Needs Trusts and “Qualified Disability Trusts” April 2009