
The House Ways and Means Committee recently introduced proposed changes to the estate, trust, and gift taxation laws that could have a tremendous impact on the tax treatment of grantor trusts if signed into law.
What are grantor trusts?
A grantor trust is a trust in which the person who establishes the trust is the owner of the property and assets for estate and income tax purposes.
This type of trust is desirable because:
Changes to grantor trust taxation
The House and Ways Committee draft bill calls for a revamp of the estate and gift tax. The proposal aims to amend grantor trusts in the following ways:
Help is available
The estate planning attorneys at O’Reilly Rancilio are available to answer your questions. For more information, please call 586-726-1000 or visit our website.
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