My good friend Steve Hartnett, the Director of Education for the American Academy of Estate Planning Attorneys, has created a three part series of blogs intended to help people understand the basics of the taxation of trusts. This post discusses Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Grantor trusts can be quite useful in tax planning. Read on to learn more.
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