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.

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