Trusts & Estates BROUGHT TO YOU BY brought to you by Wealth Planning>Estate Planning Deciding and Converting Between Grantor And Non-Grantor Trust Status (Part I) Evaluation of planning opportunities and potential pitfalls.

Shudan Zhou, Daniel W. Hatten, Elliott H. Murray | Aug 21, 2023

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While properly structured trusts are effective vehicles for achieving transfer-tax planning objectives, clients are increasingly interested in maximizing income tax benefits that those trusts may afford. A choice between grantor and non-grantor trust status is key to accomplishing certain income tax planning goals. However, both types of trusts have their own advantages and disadvantages, and converting one variety into another can raise many issues that can be traps for the unwary.

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