Knowing what is likely to take place with property interests after a person's death can help that person to prepare a better trust instrument before his or her death. This tax guide imparts the necessary knowledge for individuals to take a more decisive hand in clarifying the fine points and intentions of their trusts. Explained are the working components of a trust, the 'why' of transfer taxation, the tax returns required, life estates for surviving spouses, the role of charitable remainders, and the special valuation rules for appreciated property, family farms and businesses, and other family wealth. This books cautions against using family trusts as a tax shelter and entrepreneurial enterprise, explains the taxation process before property transfers become irrevocable, and stresses the various tax exclusions.
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About the Author
Holmes F. Crouch is the author of 25 books including Family Tax Strategies, Disagreeing with the IRS, and Winning Your Audit. He has 25 years of experience as an IRS enrolled tax practitioner. He lives in Saratoga, California.
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Inside This Book
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First Sentence:
A trust is a legal entity created under state law. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
surviving trustor, corpus cash, trust preparer, decedent trustor, unified exclusion, deceased trustor, corpus property, income distribution deduction, skip persons, distributable net income, marital deduction property, executor functions, inclusion ratio, predeceased spouse, trust instrument, special valuation rules, remainder factor, generation assignment, tentative tax, direct skips, trust promoters, gross estate, decedent spouse, asset schedules, distributable income Key Phrases - Capitalized Phrases (CAPs): (learn more)
Internal Revenue Code, Imposition of Transfer Tax, Tax Court, Actuarial Values, Allowance of Marital Deduction, Each Form, Residual Trust, Transfers Subject New!
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Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
A trust is a legal entity created under state law. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
surviving trustor, corpus cash, trust preparer, decedent trustor, unified exclusion, deceased trustor, corpus property, income distribution deduction, skip persons, distributable net income, marital deduction property, executor functions, inclusion ratio, predeceased spouse, trust instrument, special valuation rules, remainder factor, generation assignment, tentative tax, direct skips, trust promoters, gross estate, decedent spouse, asset schedules, distributable income Key Phrases - Capitalized Phrases (CAPs): (learn more)
Internal Revenue Code, Imposition of Transfer Tax, Tax Court, Actuarial Values, Allowance of Marital Deduction, Each Form, Residual Trust, Transfers Subject New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
Citations (learn more)
This book cites 2
books:
- Real Estate (Methuen New Theatrescript) by Louise Page on page 130
- Trusts (Principles of European Law) by Stephen Swann on page 4
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