What are the tax consequences

Assignment Help Business Management

Reference no: EM133653980

Question

Sally established a trust for the benefit of her three adult children, appointing herself as trustee. Under the terms of the trust, the income was to be divided equally among them, except Sally retained the right to vary distribution to provide for "medical emergencies, professional education and inability of any beneficiary to support himself or herself." What are the tax consequences of this trust at Sally's death? In the prior problem, assume that the trust also gave Sally the right to vary distributions "for any other valid reason." What are the tax consequences?

Reference no: EM133653980

Questions Cloud

Identify two pay provisions that apply to regular government : Identify TWO pay provisions that apply to regular government employees. Do not receive differential pay. Compensated for overtime.

How might naloxone be used to treat narcotic dependence : How might naloxone be used to treat narcotic dependence?

Personnel to personnel or from crew to crew : Identify TWO procedures that need to take place when property is transferred from personnel to personnel or from crew to crew.

Develop a care plan for a child with bronchiolitis : The nursing interventions would reflect the underlying respiratory syncytial virus with patent ductus arteriosus (PDA) history.

What are the tax consequences : Sally established a trust for the benefit of her three adult children, appointing herself as trustee. What are the tax consequences?

Specific criteria is function of product : Reducing the number of new product ideas based on specific criteria is a function of product,

What are about massachusetts health record retention periods : Do you see similarities/differences between the states requirements? What are your thoughts about Massachusetts' health record retention periods?

Examine the shift toward accountable care organizations : Examine how the shift toward Accountable Care Organizations (ACOs) indicates a potentially significant shift in the way healthcare is delivered.

Warrants should only be issued when probable cause exists : According to the Fourth Amendment, warrants should only be issued when probable cause exists, the place to be searched is identified,

User Account

All Pages