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Subject:  Re: Taxes for Family Trust Date:  5/13/2017  7:55 PM
Author:  inparadise Number:  125918 of 132878

It appears to me that the OP was posting here to ask if they were going to be responsible for paying taxes on the trust even though they were unlikely to receive any money, and secondly, to see if there was a way to let their kids claim from the trust without the kids having to inherit the trust themselves.

Bingo. Our kids could use this money and now rather than when DH dies. We won't be able to qualify for distribution to pay Youngest's college expenses, but if the trust can skip our generation he would meet the need test, and in that way it would benefit us because we would then not have to pay his college expenses! Eldest hopes to start his own company in 5 years. This trust could support him in his needs for "health, maintenance and support" during the lean years when he is pouring the income from his company back into his business. Let them deal with it and benefit from it.

Perhaps I would feel differently if this trust made any sense and was easy to understand. Right now even the law firm that drafted it are not sure about it. Every professional who has dealt with this trust seems to want nothing to do with it.

who seems to have finally gotten DH to start paying attention to the trust, no doubt prompted by suggesting we turn it down as useless
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