Completed Gifts to Trusts

The IRS has recently upheld that property transfers to a trust where the donors gave up any power to determine or control the beneficial enjoyment of the trust income or principal, but retained limited powers to appoint amounts still in trust at the time of the donor’s death, are completed gifts. The limited powers of appointment related only to the trust remainder, and the IRS and courts have maintained that these are separate interests where the gift was complete except with respect to the remainder interest.

This entry was posted in News & Updates and tagged Gifts, IRS, trusts. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>