{"id":969,"date":"2021-02-10T16:45:28","date_gmt":"2021-02-11T00:45:28","guid":{"rendered":"https:\/\/www.pinnacleprivateadvisors.com\/?page_id=969"},"modified":"2021-04-21T16:00:18","modified_gmt":"2021-04-21T23:00:18","slug":"complex-trust-and-estate","status":"publish","type":"page","link":"https:\/\/www.pinnacleprivateadvisors.com\/complex-trust-and-estate\/","title":{"rendered":"Complex Trust and Estate"},"content":{"rendered":"<div id='av_section_1'  class='avia-section main_color avia-section-default avia-no-border-styling  avia-full-stretch av-section-color-overlay-active avia-bg-style-scroll  avia-builder-el-0  el_before_av_submenu  avia-builder-el-first   av-minimum-height av-minimum-height-custom  container_wrap sidebar_right' style='background-repeat: no-repeat; background-image: url(https:\/\/www.pinnacleprivateadvisors.com\/wp-content\/uploads\/2020\/11\/iStock-691751112-1-1030x566.jpg);background-attachment: scroll; background-position: center center;  '  data-section-bg-repeat='stretch'><div class='av-section-color-overlay-wrap'><div class='av-section-color-overlay' style='opacity: 0.8; background-color: #0c0f30; '><\/div><div class='container' style='height:350px'><main  role=\"main\" itemprop=\"mainContentOfPage\"  class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-969'><div class='entry-content-wrapper clearfix'>\n<div  style='padding-bottom:0px; color:#ffffff;' class='av-special-heading av-special-heading-h2 custom-color-heading blockquote modern-quote  avia-builder-el-1  avia-builder-el-no-sibling  '><h2 class='av-special-heading-tag '  itemprop=\"headline\"  >Complex Trust and Estate<\/h2><div class='special-heading-border'><div class='special-heading-inner-border' style='border-color:#ffffff'><\/div><\/div><\/div>\n\n<\/div><\/div><\/main><!-- close content main element --><\/div><\/div><\/div><div class='clear'><\/div><div id='sub_menu1'  class='av-submenu-container main_color  avia-builder-el-2  el_after_av_section  el_before_av_heading  av-sticky-submenu av-switch-768 submenu-not-first container_wrap sidebar_right' style='  z-index:301' ><div class='container av-menu-mobile-active '><a href='#' class='mobile_menu_toggle' aria-hidden='true' data-av_icon='\ue8a5' data-av_iconfont='entypo-fontello'><span class='av-current-placeholder'>Menu<\/span><\/a><ul id=\"menu-submenu-services\" class=\"av-subnav-menu av-submenu-pos-center\"><li id=\"menu-item-999\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-top-level menu-item-top-level-1\"><a href=\"https:\/\/www.pinnacleprivateadvisors.com\/comprehensive-wealth-management\/\" itemprop=\"url\"><span class=\"avia-bullet\"><\/span><span class=\"avia-menu-text\">Comprehensive Wealth Management<\/span><span class=\"avia-menu-fx\"><span class=\"avia-arrow-wrap\"><span class=\"avia-arrow\"><\/span><\/span><\/span><\/a><\/li>\n<li id=\"menu-item-1000\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-top-level menu-item-top-level-2\"><a href=\"https:\/\/www.pinnacleprivateadvisors.com\/tax-efficient-retirement\/\" itemprop=\"url\"><span class=\"avia-bullet\"><\/span><span class=\"avia-menu-text\">Tax Efficient Retirement Planning<\/span><span class=\"avia-menu-fx\"><span class=\"avia-arrow-wrap\"><span class=\"avia-arrow\"><\/span><\/span><\/span><\/a><\/li>\n<li id=\"menu-item-998\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-top-level menu-item-top-level-3\"><a href=\"https:\/\/www.pinnacleprivateadvisors.com\/private-client-lending\/\" itemprop=\"url\"><span class=\"avia-bullet\"><\/span><span class=\"avia-menu-text\">Private Client Lending<\/span><span class=\"avia-menu-fx\"><span class=\"avia-arrow-wrap\"><span class=\"avia-arrow\"><\/span><\/span><\/span><\/a><\/li>\n<li id=\"menu-item-997\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-top-level menu-item-top-level-4\"><a href=\"https:\/\/www.pinnacleprivateadvisors.com\/advanced-financial-planning\/\" itemprop=\"url\"><span class=\"avia-bullet\"><\/span><span class=\"avia-menu-text\">Advanced Financial Planning<\/span><span class=\"avia-menu-fx\"><span class=\"avia-arrow-wrap\"><span class=\"avia-arrow\"><\/span><\/span><\/span><\/a><\/li>\n<li id=\"menu-item-996\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-top-level menu-item-top-level-5\"><a href=\"https:\/\/www.pinnacleprivateadvisors.com\/complex-trust-and-estate\/\" itemprop=\"url\"><span class=\"avia-bullet\"><\/span><span class=\"avia-menu-text\">Complex Trust and Estate<\/span><span class=\"avia-menu-fx\"><span class=\"avia-arrow-wrap\"><span class=\"avia-arrow\"><\/span><\/span><\/span><\/a><\/li>\n<li id=\"menu-item-995\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-top-level menu-item-top-level-6\"><a href=\"https:\/\/www.pinnacleprivateadvisors.com\/charitable-giving\/\" itemprop=\"url\"><span class=\"avia-bullet\"><\/span><span class=\"avia-menu-text\">Charitable Giving<\/span><span class=\"avia-menu-fx\"><span class=\"avia-arrow-wrap\"><span class=\"avia-arrow\"><\/span><\/span><\/span><\/a><\/li>\n<\/ul><\/div><\/div><div class='sticky_placeholder'><\/div><div id='after_submenu'  class='main_color av_default_container_wrap container_wrap sidebar_right' style=' '  ><div class='container' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-969'><div class='entry-content-wrapper clearfix'>\n<div  style='padding-bottom:0px; ' class='av-special-heading av-special-heading-h3  blockquote modern-quote  avia-builder-el-3  el_after_av_submenu  el_before_av_hr  avia-builder-el-first  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >Complex Trust and Estate<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div>\n<div   class='hr hr-short hr-left   avia-builder-el-4  el_after_av_heading  el_before_av_textblock '><span class='hr-inner ' ><span class='hr-inner-style'><\/span><\/span><\/div>\n<section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock  '   itemprop=\"text\" ><p>You\u2019ve worked hard for everything you have. Ensure that you are prepared to transfer your wealth, achieve philanthropic goals, minimize taxes, maintain privacy, and most importantly, protect your assets. Our team and our strategic partners are specifically assembled to provide the high-level education you deserve and maximize the management of your affairs should the day come you can no longer do so.<\/p>\n<\/div><\/section>\n<div  style=' margin-top:5px; margin-bottom:35px;'  class='hr hr-custom hr-center hr-icon-no   avia-builder-el-6  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner  inner-border-av-border-fat' style=' width:50px; border-color:#efbb20;' ><span class='hr-inner-style'><\/span><\/span><\/div>\n<section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock  '   itemprop=\"text\" ><p>A \u201cSimple Trust\u201d requires the distribution of all income.<\/p>\n<p>A \u201cComplex Trust\u201d gives the Trustee discretion to either distribute the income or to hold the income within the trust.<\/p>\n<p>The designation of &#8220;complex&#8221; means that the trustee has more discretion, not necessarily that the terms are more complicated.\u00a0 A complex trust can pay out some but not all of its assets to beneficiaries leaving the remaining amount in the trust as the responsibility of the trust to pay taxes on.<\/p>\n<h3><strong>Trusts &#038; Estate Planning<\/strong><\/h3>\n<p>Trusts can be used inside an estate plan to perform a number of functions:<\/p>\n<ul>\n<li>Pass on specific assets to your chosen beneficiaries<\/li>\n<li>Stay out of probate<\/li>\n<li>Manage estate and\u00a0gift tax liability<\/li>\n<li>Protect assets from creditors<\/li>\n<li>Ensure that a special needs beneficiary is cared for when you\u2019re gone<\/li>\n<li>Receive the proceeds of a\u00a0life insurance policy\u00a0when you pass away<\/li>\n<\/ul>\n<h3><strong>Simple Trust:<\/strong><\/h3>\n<p>To be classified as a simple trust, the trust must meet certain criteria set by the IRS:<\/p>\n<ul>\n<li>Distribute income earned on trust assets to beneficiaries annually<\/li>\n<li>Make no principal distributions<\/li>\n<li>Make no\u00a0distributions to charity<\/li>\n<\/ul>\n<p>With this type of trust, the trust income is considered taxable to the beneficiaries.\u00a0 The trust reports income to the IRS annually and it\u2019s allowed to take a deduction for any amounts distributed to beneficiaries. The trust itself is required to pay capital gains tax on earnings.<\/p>\n<h3><strong>Complex Trust:<\/strong><\/h3>\n<p>A complex trust must do one of the following each year:<\/p>\n<ul>\n<li>Refrain from distributing all of its income to trust beneficiaries<\/li>\n<li>Distribute some or all of the principal assets in the trust to beneficiaries<\/li>\n<li><strong>Make distributions to charitable organizations<\/strong><\/li>\n<\/ul>\n<p>Any trust that doesn\u2019t meet the guidelines to qualify as a simple trust is considered to be a complex trust. Complex trusts can take\u00a0deductions\u00a0when computing taxable income for the year. This deduction is equal to the amount of any income the trust is required to distribute for the year.<\/p>\n<p>There are also some other rules to keep in mind with complex trusts. First, no principal can be distributed unless all income has been distributed for the year first. Ordinary income takes first place in the distribution line ahead of dividends and\u00a0dividends have to be distributed ahead of capital gains. Once those conditions are met, then the principal can be distributed. And all distributions have to be equitable for all trust beneficiaries who are receiving them.<\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":341,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Complex Trust and Estate - Pinnacle Private Advisors<\/title>\n<meta name=\"description\" content=\"Complex Trust and Estate planning for high net worth individuals. 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