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 Form 706 2017

2017-2025 Form

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Instructions and help about Form 706

[Music] [Music] hi and welcome to your money your taxes and your wealth my name is Jared bloom and I'll be your host today we're going to talk about taxes for trust taxes for estates and also the gift tax my guest today is Nancy Vacarro she's my colleague at seacrest in bloom Nancy thanks for being on the show thank you for inviting me pleasure to be here great so let's start off by first of all what is a trust what is in a state basically a trust is a separate legal entity it's set up to hold property there's basically three parties to a trust there's a grand tour and that's the person who sets up the trust there are beneficiaries and those are the persons people that benefit from the trust and then there's a trustee and that's the person who actually administers the trust and you know one of the things sometimes people do is they'll set up the trust levels wonderful trust drafted but it's

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