An irrevocable trust established to qualify contributions for the annual federal gift tax exclusion for gifts of a present interest. The trust is named Crummey because of a case involving a family named Crummey. The trust contains Crummey Powers, enabling a beneficiary to withdraw assets contributed to the trust for a limited period of time.
The Fulton Georgia Sprinkling Trust for Children During Granter's Life, and for Surviving Spouse and Children after Granter's Death Crummyey Trust Agreement is a legal document that serves to protect and manage the financial assets of the granter and his or her family members. This trust agreement provides detailed instructions and guidelines for the distribution of funds both during the granter's lifetime and after their death. Keywords: Fulton Georgia, Sprinkling Trust, Children, Granter's Life, Surviving Spouse, Children, Crummy Trust Agreement. There are different types of Fulton Georgia Sprinkling Trusts for Children During Granter's Life, and for Surviving Spouse and Children after Granter's Death Crummyey Trust Agreement that can be customized to meet specific needs. Some variations of this trust agreement may include: 1. Irrevocable Sprinkling Trust: This type of trust cannot be modified or revoked by the granter once it is established. It allows for distributions to be made to children during the granter's life based on specific criteria outlined in the trust agreement. 2. Crummy Power Trust: This trust includes the utilization of the Crummy power, which allows the granter's children to withdraw a certain amount of money from the trust annually without triggering any gift tax consequences. This provision gives the children control over the funds while still maintaining the trust's integrity. 3. Marital Sprinkling Trust: In this trust, the surviving spouse becomes the primary beneficiary during their lifetime. After the spouse's death, the trust assets are then distributed among the granter's children according to the terms and conditions specified in the trust agreement. 4. Generation-Skipping Sprinkling Trust: This type of trust is specifically designed to bypass one or more generations and distribute assets directly to grandchildren or future descendants. It can help minimize estate taxes while still providing for the granter's children and future generations. These variations of the Fulton Georgia Sprinkling Trust for Children During Granter's Life, and for Surviving Spouse and Children after Granter's Death Crummyey Trust Agreement provide flexibility and options for granters to ensure their assets are protected and distributed according to their wishes. It is essential to consult with a qualified estate planning attorney to understand the specific terms and benefits of each type of trust agreement.The Fulton Georgia Sprinkling Trust for Children During Granter's Life, and for Surviving Spouse and Children after Granter's Death Crummyey Trust Agreement is a legal document that serves to protect and manage the financial assets of the granter and his or her family members. This trust agreement provides detailed instructions and guidelines for the distribution of funds both during the granter's lifetime and after their death. Keywords: Fulton Georgia, Sprinkling Trust, Children, Granter's Life, Surviving Spouse, Children, Crummy Trust Agreement. There are different types of Fulton Georgia Sprinkling Trusts for Children During Granter's Life, and for Surviving Spouse and Children after Granter's Death Crummyey Trust Agreement that can be customized to meet specific needs. Some variations of this trust agreement may include: 1. Irrevocable Sprinkling Trust: This type of trust cannot be modified or revoked by the granter once it is established. It allows for distributions to be made to children during the granter's life based on specific criteria outlined in the trust agreement. 2. Crummy Power Trust: This trust includes the utilization of the Crummy power, which allows the granter's children to withdraw a certain amount of money from the trust annually without triggering any gift tax consequences. This provision gives the children control over the funds while still maintaining the trust's integrity. 3. Marital Sprinkling Trust: In this trust, the surviving spouse becomes the primary beneficiary during their lifetime. After the spouse's death, the trust assets are then distributed among the granter's children according to the terms and conditions specified in the trust agreement. 4. Generation-Skipping Sprinkling Trust: This type of trust is specifically designed to bypass one or more generations and distribute assets directly to grandchildren or future descendants. It can help minimize estate taxes while still providing for the granter's children and future generations. These variations of the Fulton Georgia Sprinkling Trust for Children During Granter's Life, and for Surviving Spouse and Children after Granter's Death Crummyey Trust Agreement provide flexibility and options for granters to ensure their assets are protected and distributed according to their wishes. It is essential to consult with a qualified estate planning attorney to understand the specific terms and benefits of each type of trust agreement.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
