Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more.
As the owner of Krueger & Hernandez SC, it is Stephanie’s mission to address each client’s goals for their estate plan. By identifying their wishes and concerns she can educate, guide, and counsel on the different tools and options that will effectively and efficiently accomplish those goals.