What is a Charitable Remainder Trust?

Estate tax and related planning

A charitable remainder trust is an irrevocable trust that allows the settlor/taxpayer to donate property, cash, securities, or other assets to charity and still receive an income stream for life.

Connelly v. United States – Effect on Your Estate Planning

In its recent Opinion in Connelly v. United States, 144 S.Ct. 1406 (June 6, 2024) the U.S. Supreme Court held that a corporation’s contractual obligation to use life insurance proceeds to redeem a deceased shareholder’s shares was not a liability but rather must be included when calculating the value of the decedent’s shares for estate tax purposes.

Are There Limits to a Trustee’s Absolute Discretion?

What is an irrevocable trust

Even though the settlor of a trust may provide that the trustee has “absolute discretion,” or “sole and unfettered discretion,” the trustee must still act reasonably and may be liable to the beneficiaries if he abuses his discretion.