S, age 60, transferred $100,000 to a trust. The income is payable to A, age 60, during the life of S. The corpus is payable to B on S’s death. S retained the power to name a new remainderman. When S dies ten years later, what are the estate tax consequences of this trust?

Answer rating: 100% (QA)

answer Beneficiaries of Trust typically pay taxes on the distributions they receive from the trusts income rather than the trust itself paying the tax However such beneficiaries are not subject to tax... View the full answer