ProDoc Forums - Simple Crummey trust?
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Jeff Barnett
USA
8 Posts |
 Posted - 04/23/2003 : 11:22:48 AM
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I am in need of a simple Crummey Trust document that basically has the Grantor giving the annual gift tax exclusion amount (or any amount the Grantor chooses, but usually will be the IRS gift amount) annually to a child (or grandchild) to be held in trust for that child or grandchild until they reach a certain age (or given to them in phases at 2 or 3 ages), with discretion in the Trustee to distribute funds from the trust as needed for health, education, welfare, etc.
Beneficiary is given window after gift made to trust to take the money given to the trust, as required by law. Most of the trusts in the volume don't seem to be this simple, or am I missing something? |
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Ronald Lipman
USA
499 Posts |
Posted - 04/24/2003 : 08:18:46 AM
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If your client is married, use Form 5-410. If single, use Form 5-610. For a grandchild, you may want to use Forms 5-440 or 5-640, but the reasons why this trust may be more appropriate are a bit too complicated to state in just a few sentences. These trusts do exactly what you want.
Ronnie Lipman |
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Simple Crummey trust?
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