At the time of the trust’s creation, everyone lived in the Bronx. The trust was initially created as a “grantor” trust, meaning that Gloria was personally responsible for paying the tax gene ...

you’ll need to draft a trust document, either on your own or with the help of an estate lawyer, that lays out the grantor, trustee, beneficiaries, and assets. Then you sign and notarize the ...

A non-grantor trust is a separate legal entity for federal tax reporting purposes; as a result, a trust is required to file a Form 1041 to report the income, deductions, gains, losses and credits ...

While for many of these advanced estate planning transactions, the creator of such irrevocable trusts (i.e., the settlor, grantor, trustor, etc.) is treated as the party responsible for paying the ...

Let's say you can’t move quite yet, so you wonder if a trust in another state might work? The usual grantor trust you form for estate planning doesn’t help, since the grantor must include the ...