A type of trust which allows a limited amount of withdrawals by the trust's beneficiary, and also tax-free gifts to minors. The trust allows these actions to be undertaken during a limited window each year, often 30 days. A crummey trust does not require the distribution of assets when the beneficiary reaches the age of 21.
Related information about crummey trust:
- Crummey trust - Wikipedia, the free encyclopedia
In the United States a Crummey trust (named for the first person to use such a structure) is a trust for the benefit of a minor into which gifts are made in a manner ...
- What is a Crummey Trust?
What is a Crummey trust? Please remember that this answer is provided in the spirit of public education, not as legal advice. If you require legal advice for a ...
- Do You Need a Crummey Trust? - WSJ.com
Sep 24, 2011 ... There's nothing crummy about a Crummey trust—even in a period of higher exemptions for estate and gift taxes.
- FinAid | Saving for College | Crummey Trust
The Crummey Trust is named after D. Clifford Crummey, the first taxpayer to use this kind of trust successfully. Crummey Trusts may be used for gifts to ...
- What is a Crummey Trust? | Estate Planner
Aug 8, 2011 ... Don't let its name fool you; the Crummey trust is a very viable option in estate planning. The Crummey trust can be used to legally avoid the ...
- Beginner's Guide to the Crummey Trust for Education
An in-depth profile of Crummey Education Trusts. Identifies the ideal type of investor, advantages, disadvantages, eligibility, contribution limits, tax benefits, ...
- With Trusts, 'Crummey' Is Good - Forbes
Oct 9, 2011 ... A “Crummey” trust takes its name from a famous tax case involving Reverend Crummey, who was probably teased mercilessly growing up.
- Taxes—Intricacies of Crummey Trusts - Cannon Financial Institute
The Crummey trust, featuring withdrawal powers for beneficiaries, has been around ... The Crummey trust, so named in reference to the plaintiff in a famous court ...