IRC Section 645 Is Your Friend

You've got a friend, or at least an ally, in Internal Revenue Code Section 645. Advisors don't often use the words and in the same sentence. But Section 645 offers the trustee of a decedent's revocable trust the opportunity to take advantage of some of the favorable income tax rules that apply to decedents' estates, but not their (formerly) revocable trusts. People often use revocable trusts as testamentary

Amy K. Kanyuk | Dec 01, 2003

You've got a friend, or at least an ally, in Internal Revenue Code Section 645. Advisors don't often use the words “code” and “friend” in the same sentence. But Section 645 offers the trustee of a decedent's revocable trust the opportunity to take advantage of some of the favorable income tax rules that apply to decedents' estates, but not their (formerly) revocable trusts.

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