Question: I’m going have a spendthrift type of trust drawn up for my son who will probably inherit $6-7 million dollars. The instructions would be to invest the money in an S&P 500 [...]

Question: My mother recently passed. She has an irrevocable trust. The only assets left in the trust are her checking and savings account funds. Now that she has passed, I am the successor [...]

Question: I set up ILIT 20 years ago and added cash and sent the required Crummey letters each year. I’m now thinking of making a large gift to the trust and filing a gift tax return [...]

Question: My sisters and I would liked to sell part of a piece of land worth $15 million or more held in trust. We learned we couldn’t get the money out of the trust thru distributions so we are [...]

Question: My father-in-law set up an irrevocable trust which contains about $250,000 held in a non-IRA investment account. When he died in 2020, the funds were transferred to a bank account [...]

Question: We set up an irrevocable trust last year with our daughter, age 50, as beneficiary and trustee. The asset was an apartment building in California which is 100% paid. We would like to [...]

Question: In a simple trust, when determining the distributable income, I subtract the expenses (accounting and trustee fees) from the interest and dividend income. Do I subtract 100% of the [...]

Question: We have an irrevocable family trust agreement on my Dad’s behalf. We only received a 1099-R for $130. The dividend check was written out to the trust and was deposited into a [...]

Question: Would someone that has long term care insurance in Massachusetts need an irrevocable trust? Response: This is an interesting question, in large part because Massachusetts has a unique [...]

Question: I am the trustee of my parents’ trust. They have now both passed away. I want to liquidate and distribute the proceeds to the beneficiaries. Does the trust have to pay taxes upon [...]