A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a nongrantor trust and situations in which it might be useful.
Nongrantor Trusts Can Be Very Useful in Certain Situations
Attorney at Wilcox Attorneys, PA
Audra Bailey Wilcox is the owner and lead Attorney at Wilcox Attorneys, PA.Audra grew up in Brinkley, Arkansas where her family is engaged in farming rice and soybeans.She began practicing law in 1998 after receiving her BA and her JD from the University of Arkansas.
Audra has received extensive training from the American Academy of Estate Planning Attorneys, a national organization. She is one of 8 attorneys currently serving on the Academy’s Board of Governors.
Audra and her husband Ernie have two children, Ellyn and Coleman. They enjoy traveling, auctions, and owning a gift and antique store in historic Prairie Grove, Arkansas. The whole family enjoys Razorback sports.
Audra has received extensive training from the American Academy of Estate Planning Attorneys, a national organization. She is one of 8 attorneys currently serving on the Academy’s Board of Governors.
Audra and her husband Ernie have two children, Ellyn and Coleman. They enjoy traveling, auctions, and owning a gift and antique store in historic Prairie Grove, Arkansas. The whole family enjoys Razorback sports.
Latest posts by Audra Bailey Wilcox (see all)
- Trust Administration Tips for the Beginner Trustee - November 7, 2023
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- What Can I Do to Prevent Disputes Over My Estate After I’m Gone? - October 24, 2023
