Turn Off Grantor Trust Status

This presentation will discuss many of the tax and non-tax consequences of debt on property when transferred or later imposed on the property or later relieved.

As practitioners, we often recommend that inter vivos trusts established by the client be “grantor trusts” for income tax purposes. That is, while the gift in trust will be a completed gift for estate, gift, and generation skipping tax…

The grantor trust rules were originally viewed as a restriction on the ability of taxpayers to take advantage of the graduation of income tax rates by creating multiple trusts that would function as separate taxpayers, while reserving…

Terminating grantor trust status will not be simply a question of turning off a power of substitution.