PLR 201702005 + PLR 201702006: Service Rules on Trust Division

In PLRs 201702005 and 201702006, the Service ruled that distributions from divisions of two trusts will not result in GST tax, gift tax, or cause realization of taxable gain/loss.  In addition, the two divided trusts will be treated as two separate trusts after the division.

See PLR 201702005 and PLR 201702006.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.