John is the grantor of a trust. He funds the trust and provides that his daughter, Eleanor,
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John is the grantor of a trust. He funds the trust and provides that his daughter, Eleanor, has the right to use the trust income as desired to support her minor daughter, Lucy. John names Eleanor as trustee of the trust. Eleanor does not use any of the trust income for the support of Lucy. Will Eleanor be treated as the owner of this trust? What if the Diamond Sky Bank is named the trustee instead of Eleanor? Will that make Eleanor the owner of the trust?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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