Minor Qualifying for Annual Gift-Tax Exclusion
Gifts in trust to minors are quite common, both as a means of building up a child's estate and as a way to minimize federal gift, income, and estate taxes payable by the trustor or the trustor's estate. A carefully drafted minor's trust can provide competent management of the property on the minor's behalf, while avoiding any problem of the minor's disability to act with respect to that property. Such a trust can effect substantial tax savings for the trustor-donor while regulating distribution of the trust income and principal in keeping with the needs of the minor.
A section 2503(c) Minor's Trust is a separate legal entity (a trust) established to hold gifts in trust for a child until the child reaches age 21. The trust is named after the section of the Internal Revenue Code upon which it is based.
Normally, for a gift to qualify for the annual gift tax exclusion, it must be a gift of a present interest. This means the recipient must be able to use the gift immediately. A gift of a future interest in some property (e.g., the right to the money when the child turns 21) would not normally qualify, except for section 2503(c) of the Internal Revenue Code. Section 2503(c) sets out the conditions under which a gift of a future interest to a minor qualifies for the gift tax exclusion.
Arlington Texas Multiple Trusts for Children -- Trust Agreement for Minor Qualifying for Annual Gift-Tax Exclusion
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Arlington
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US-0977BG
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Arlington House is located inside Arlington National Cemetery. From Washington, D.C. you can drive to the cemetery by crossing the Memorial Bridge.
Arlington is well connected to Washington, D.C. and the greater region with 11 Metro stations on the Orange, Silver, Blue and Yellow lines, plus easy connections to the Red Line for access to Amtrak Washington, D.C. Union Station. Check out Metro's Trip Planner for more info.
If you enjoy outdoor activities, then you may enjoy Arlington more than DC. The county offers many large parks and long hiking trails that you won't find in DC. If you are more interested in exploring a big city, then you may want to select DC.
From 1801 to 1847, what are now Arlington and a portion of the were known as Alexandria County, District of Columbia. In 1847, at the request of the local residents, Congress retroceded Alexandria County to the Commonwealth of Virginia.
Arlington, Texas Arlington ZIP Codes 76001-76007, 76010-76018, 76094, 76096 Area codes 682,817, 214, 469, 945, 972 FIPS code 48-04000 GNIS feature ID 137232030 more rows Arlington, Texas - Wikipedia wikipedia.org ? wiki ? Arlington,_Texas wikipedia.org ? wiki ? Arlington,_Texas
Arlington, urban county in northern Virginia, U.S., lying across the Potomac River (southwest) from Washington, D.C., and adjoining the (south). Arlington is connected to Washington by five bridges?Francis Scott Key, Arlington Memorial, George Mason, Theodore Roosevelt, and Rochambeau Memorial.
