Key Takeaways When looking to transfer large amounts of assets to future generations, selling assets to an intentionally defective grantor trust (IDGT) may create greater tax savings than other gifting strategies. With an IDGT, the grantor is considered the owner for income tax purposes and pays taxes on the income produced by the trust, but the trust assets are not considered owned by the grantor for estate tax purposes. Selling highly appreciating or income-producing assets to an IDGT effectively “freezes”
Read more
Insights
Sale to an Intentionally Defective Grantor Trust (IDGT)
Do You Have a College Student?
Once a child reaches age 18, he or she is an adult by law. Parents lose the right to learn about their child’s health, tuition bills and even their grades once their child becomes an adult. It can be rather worrisome if your child is miles away and becomes ill or suffers an accident and is hospitalized. What if they need assistance with a bank account or filing a tax return? These unnecessary worries can be avoided if your child
Read more
