A Closer Look at Those New Specimen CRUTsA Closer Look at Those New Specimen CRUTs
The Internal Revenue Service has done a yeoman's service in publishing specimen safe-harbor charitable remainder unitrust (CRUT) agreements for inter vivos and testamentary trusts. The specimens issued in August 2005 update, improve and greatly expand on those the IRS previously issued. The Service also gives copious annotations on the underlying law and supplies alternate provisions. It's been said
Conrad Teitell, principal, Cummings & Lockwood LLC, Stamford, Conn.
The Internal Revenue Service has done a yeoman's service in publishing specimen safe-harbor charitable remainder unitrust (CRUT) agreements for inter vivos and testamentary trusts. The specimens — issued in August 2005 — update, improve and greatly expand on those the IRS previously issued. The Service also gives copious annotations on the underlying law and supplies alternate provisions.
It's been said that a footnote is equivalent to going downstairs on one's wedding night to answer the doorbell. Ignore that doorbell at your peril when it comes to the footnotes to the IRS's specimens (the annotations and alternate provisions). Some of the alternate provisions should be i...
Unlock All Access Premium Subscription
Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!
Already Subscribed?
