Question
Estate Finance Family Tax Plan Question 1. On January 2, 2000, Larry creates a trust with Larry's wife Cheryl as trustee. Cheryl as trustee may
Estate Finance Family Tax Plan Question
1. On January 2, 2000, Larry creates a trust with Larry's wife Cheryl as trustee. Cheryl as trustee may distribute principal and income to Susie and Leon for their welfare. Upon Larry's death, the remainder is distributed to Susie and Leon equally. Does Cheryl's power to distribute principal and income cause the trust to be grantor as to Larry under 671. Why or why not?
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Sound Investing, Chapter 18 - Significant Accounting Policies And Changes In Them
Authors: Kate Mooney
3rd Edition
0071719407, 9780071719407
