On July 8th the IRS issued the following ruling.

 

Number 201628010, Summary: The IRS deferred ruling on whether a trust’s grantor will be treated as its owner while a distribution committee is serving; however, it ruled that the grantor’s contribution of property to the trust won’t be deemed a completed gift and that the trust’s distributions to beneficiaries won’t be deemed completed gifts of the committee members.

Posted by Allison Trupp, Associate Editor, Wealth Strategies Journal