You are the Trustee of your own Trust, and the beneficiary of your own Trust.
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Choate suggests this alternative: Name your spouse as primary beneficiary of your IRA and your credit shelter trust as the contingent beneficiary.
The new law also makes it possible to name a trust as a beneficiary of your 401(k) without nasty tax consequences.
On the capital gains front, instead of selling stock in the trust, you might distribute it and sell it at the beneficiary level if the trust allows this, Hall says.
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The trust allows a disabled beneficiary to receive gifts from relatives, lawsuit settlements, or an inheritance without losing eligibility.
The three sisters who used to own it set up the Robertson Trust to be the beneficiary of Edrington's profits.
So he turned to the unorthodox solution of adopting someone his girlfriend so she could then be a beneficiary of the trust.
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Find yourself as the beneficiary of a trust or estate?
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When you die, your heirs then become the beneficiary of the Trust, and whoever you have appointed as the successor Trustee in your trust document will become the acting Trustee.
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But there are other reasons: you could be a beneficiary of a trust or estate or a shareholder or partner in a pass through entity and just now getting your Schedule K-1.
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Because Husband both is a beneficiary of the Trust and helped to fund the Trust, the trust was effectively self-settled by the Husband and he should not able to protect his interest for the amount that he funded it.
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Importantly, the Trust contained a spendthrift clause which provided that no beneficiary other than Wife had any power to dispose of the Trust assets.
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Tax is payable only when the income is withdrawn from the trust by the non-charitable beneficiary.
Hank didn't know he was a beneficiary of the Lois Trust because his family and the trustees, including Wilmington Trust Co. and PNC Bank, let him believe he was entitled to nothing until Mom died.
The real estate was owned by a revocable trust of which the doctor was the sole beneficiary.
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So if you're the income beneficiary of a Delaware, New York or Missouri trust, ring your trustee now.
In 1998, Caterpillar set up a VEBA, as the trust funds are called, this stands for Voluntary Employees' Beneficiary Association.
There are a host of mutual funds and annuities to choose from, with annuities providing the added advantage of the trust growing tax-free until a payment is made to a beneficiary.
Make sure the trust is set up so that when the parent dies, the remainder of the assets flows to another beneficiary, such as your children or a sibling.
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