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Funding a Trust with Funds from an Inheritance
Scenario: Person "A" will be inheriting $100,000. After receiving the inheritance a trust is established for the benefit of Person "A" and the trust will be funded with the inherited $100,000.
Questions: 1). Is the initial funding of the trust a taxable event? If the answer depends on the type of trust, then what types of trusts would not invoke a taxable event (for initial funding) under this scenario?
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‎October 23, 2021
10:42 AM