Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more.
Barry H. Zimmer founded Zimmer Law Firm in June 1993, to practice in the areas of Estate Planning, Estate Administration, and Business Succession Planning. His goal was and continues to be helping clients understand and de-mystify the often confusing world of Estate Planning in an ever-changing society, and to implement effective Estate Planning with minimal effort and time investment.
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