PLR 201014043: Judicial Reformation of Trust Does Not Affect CRUT Status

In PLR 201014043, the IRS ruled that the judicial reformation of a trust to delete compliance with Section 170(b)(1)(A) as a requirement of eligibility to be a charitable remainder beneficiary under the trust will not cause the trust to fail to qualify under Section 664 as a charitable remainder unitrust. 

See also Judicially Reformed Trust is a Valid CRUT, 2010 TNT 69-42, April 12, 2010.

Posted by Neil I. Rumbak, Associate Editor, Wealth Strategies Journal.