How Are Taxes Handled In An Inherited Trust?

Q: My parents passed away years ago and left money in a trust that is now going to be distributed to their grandchildren. How are the taxes normally handled on a trust that originally came down from their grandparents? Can the trust hold funds in an education fund?

A.: Trusts can help accomplish a lot of goals. Because of this flexibility they can also be complex. I will discuss some basics here, but I am not an attorney and I recommend you engage a good one to assist you.

Do You Need To Speak With A Lawyer About Estate Planning?

If you need to speak with an experienced estate planning lawyer please contact us online or call our office directly at 888.864.9981. We will be happy to discuss your legal options!

About Swier Law Firm's Estate Planning & Probate Practice Group

Swier Law Firm has a nationally recognized practice in estate planning and probate law and handles the following types of cases:

Estate Planning: Wills & Living Trusts
Legacy Planning
Family-Owned Businesses & Farms
Powers of Attorney & Living Wills
IRA & Retirement Planning
Asset Protection & Business Planning
Special Needs Planning
Trust Administration & Probate

Take a look at our valuable estate planning books and articles. Our materials are full of tips and advice. All materials are written by the law firm's nationally recognized estate planning attorneys and provide detailed South Dakota-specific information designed to help anyone with estate planning issues. You can request your free copy by clicking on the book cover below.