Section 6034A of the Code requires the trustee of the trust to provide each beneficiary with “a statement containing such information required to be shown on such return as the Secretary may ...

A trust is a legal arrangement created to hold and manage assets on behalf of someone else, known as the beneficiary. The trustee is the person or entity responsible for managing trust assets.

Practical issues will arise with the use of incentives. How burdensome will it be for the trustee to monitor the beneficiary’s achievements? Will the beneficiary be expected to self-report their ...

Trustees are often granted the power to distribute trust property “in the Trustee’s discretion” for a beneficiary’s “general well-being,” “best interests,” “comfort,” or, most ...

In that case, ask yourself: Do the proposed successor trustee and beneficiary get along? Is there any emotional baggage (sibling rivalry) that may impede the successor trustee’s independent ...