Income taxation of estates and trusts: new planning ideas

Article Abstract:

Tax bracket changes enacted under the tax acts of 1986, 1990 and 1993 significantly affect estate planning because any estate with a taxable income of $7,650 or above is taxed at a 39.6% effective tax rate. Therefore, planners should adopt various methods to minimize tax liability including distributing income to beneficiaries in lower tax brackets and using long-term capital gain products. Trust documents should be written to encourage the use of tax-free or deferred investments and give fiduciaries flexibility about distribution.

Commercial Banks, Trusts, Trust, Fiduciary, and Custody Activities, Estate & Tax Planning, Funds, Trusts, and Other Financial Vehicles, Estate planning

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Postmortem planning for interests in pass-through entities

Article Abstract:

The authors discuss the many taxation issues which may arise when trusts or decedents' estates hold interests in S corporations, partnerships, or other pass-though business forms.

Public Finance Activities, Tax Administration, Securities, Close corporations, Closely held corporations, S corporations

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Distributions of property from estates and trusts: avoiding income tax traps

Article Abstract:

The author discusses transfer tax rules for distributing property from estates and trusts. Methods for avoiding unexpected income tax consequences are outlined.

Methods, Planning, Tax planning, Income tax

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