If a individual dies and leaves three IRAs to a grantor trust, can the trust lolly one?
Or can the trust combine them and any A) adopt the distribution and foot the import tax, or B) split them equally between 12 beneficiaries?
Answers:
The trust could combine the three accounts. The trust must pocket the required minimum distribution respectively year and distribute the income to the beneficiaries base on their percentage of the trust. The required minimum distribution is base on the duration expectancy ofthe oldest trust beneficiary. The trust would not rate export tax on the distribution and you would not want the trust to wage the duty since a trust reach the top bracket of 35% at $9,300 of taxable income.
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Answers:
The trust could combine the three accounts. The trust must pocket the required minimum distribution respectively year and distribute the income to the beneficiaries base on their percentage of the trust. The required minimum distribution is base on the duration expectancy ofthe oldest trust beneficiary. The trust would not rate export tax on the distribution and you would not want the trust to wage the duty since a trust reach the top bracket of 35% at $9,300 of taxable income.