Question: Robbie transferred $100,000 to an irrevocable trust for the benefit of his minor child, Dominic. The transfer was eligible for the annual exclusion. The trust

Robbie transferred $100,000 to an irrevocable trust for the benefit of his minor child, Dominic. The transfer was eligible for the annual exclusion. The trust requires the trustee to distribute trust income from the trust to Dominic annually. The trust does not need to be terminated when Dominic reaches age 21.

What type of trust has Robbie created?

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Based on the information provided Robbie has created a Crummey trust A Crummey trust is an irrevocab... View full answer

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