Learn the steps and key terms for trust creation and administration from asset selection to drafting with an attorney to the trustee's financial and administrative obligations.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust's income, rather than the trust itself paying the tax. However, these beneficiaries are not subject to taxes on distributions from the trust's principal.
