A Trust is an entity which owns assets for the benefit of a third person (beneficiary). Trusts can be revocable or irrevocable. An irrevocable trust is an arrangement in which the grantor departs with ownership and control of property. Usually this involves a gift of the property to the trust. The trust then stands as a separate taxable entity and pays tax on its accumulated income. Trusts typically receive a deduction for income that is distributed on a current basis. Because the grantor must permanently depart with the ownership and control of the property being transferred to an irrevocable trust, such a device has limited appeal to most taxpayers.
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.Austin Texas Contrato de fideicomiso irrevocable en beneficio de los hijos y nietos del fideicomitente - Irrevocable Trust Agreement for Benefit of Trustor's Children and Grandchildren
State:
Multi-State
City:
Austin
Control #:
US-01567BG
Format:
Word
Instant download
Description
Free preview
