The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Insurance Trust & Taxes Date:  4/18/2000  9:34 AM
Author:  vlperk Number:  34684 of 127513

criser, after re-reading your answer regarding insurance trusts and taxes, I have an additional question. You state that income from a grantor trust is taxable to the grantor. Therefore, should I include this income (such as interest on a checking account, which is set up in the name of the trust for the purpose of paying premiums on the insurance policies)in my personal tax return? If this is the only income to the trust, do I need to file a tax return for the trust ?

Chris, thanks for your help (and indulgence).


p.s. I noted your warning regarding "hoops to jump through", "Crummey powers", etc. as they relate to insurance trusts. I am aware of these, but I appreciate your warning anyway.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us