Trust During Grantor For Tax Purposes

• Category: Trusts - Bypass
• State: Multi-State
• Control #: US-00634BG
• Format: Word; Rich Text

Description Trust Sprinkling

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.