Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more.
Attorney at Wilcox Attorneys, PA
Audra Bailey Wilcox began practicing law in 1998 after receiving her Bachelor of Arts Degree in Political Science and her Juris Doctor from the University of Arkansas.Audra owned a local title insurance company and at the same time practiced law under the name “A. Bailey Attorney, PA” with offices in Fayetteville, Farmington, and Prairie Grove.In 2018, Audra transitioned her law firm and became known as Wilcox Attorneys, PA.She is very proud of the SBA family and the care and concern her staff has for the clients of the firm. The firm’s areas of practice include real estate transactions, commercial and business law, long term care Medicaid planning, business/farm succession planning, probate, wills, trusts and estate planning.
Latest posts by Audra Bailey Wilcox (see all)
- Understanding Undue Influence – Part II - August 19, 2022
- Understanding Undue Influence – Part I - August 17, 2022
- Death and Your Digital Footprint - August 15, 2022
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