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Blog

Tax Reporting with Trusts

Edward Lovato · Aug 31, 2021 ·

Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Nongrantor trusts are trusts which are not grantor trusts. But, what is the tax reporting for grantor and nongrantor trusts? Read on to learn more.

Advantages of Using a “Grantor Trust” in Planning

Edward Lovato · Aug 27, 2021 ·

Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Grantor trusts can be quite useful in tax planning. Read on to learn more.

Taxation of Nongrantor Trusts

Edward Lovato · Aug 1, 2021 ·

“Nongrantor” trusts are trusts which aren’t taxed to a substantial owner pursuant to the grantor trust rules. Such a trust must file its own tax return and the income of the trust would be taxed to it, unless distributed. Read on to learn more.

Planning for the Sandwich Generation

Edward Lovato · Jul 27, 2021 ·

The Sandwich Generation is torn between caretaking responsibilities for their minor children and their elderly parents. But first, they need to make sure they take care of themselves. Read on to learn more.

Whom Do You Want to Get Your Assets?

Edward Lovato · Jul 22, 2021 ·

Most of us have an idea whom we’d choose to receive our assets at our death. But often we don’t contemplate what should happen if the people whom we’ve selected die before us. Read on to learn more about contingent beneficiaries.

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WHERE WE ARE

Lovato Law P.C.
661 Quantum Rd. NE, Suite 10
Rio Rancho, NM 87124
Phone: (505) 738-3777

OPENING HOURS

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

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