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Tx Grantors  Form

Tx Grantors Form

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Instructions and help about Tx Grantors

now let's say your client wants to set up an irrevocable trust remember irrevocable trust we can't change them with very limited exceptions so if they want to set up an irrevocable trust but they don't want the irritable trust to be taxed as a complex trust like we talked about before say you know what i don't i want to set up an irrevocable trust for my grandkids for example but i don't want to pay this compressed income tax rate you know 37 percent and only 13 000 of income when i set up this irrevocable trust for my grandkids what can i do about it okay let's set it up as an intentionally defective grantor trust so under this strategy under the code under certain conditions under 673 to 679 of the code we we can set up an irrevocable trust to be taxable like a grantor trust okay so this allows an irrevocable trust to be taxed like a grantor choice for income tax purposes right so um again a typical example of what we've done wi

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