If a single grantor wishes to make his maximum annual gift to a trust that has two beneficiaries what is the maximum he can currently gift?
Is it $12,000 (1 entity/Trust) or $24,000 ($12k x 2 beneficiaries)?
I know this is a tax question, but mod.taxes is very slow to post.
I looked this up, and it appears that he will not be able to use the annual exclusion at all and make a gift to this trust, as this trust has more than one beneficiary. At least that's what I found. If its HEET trust, and there is a majority split, perhaps, but it sounds like what you have is 50/50.
Scott P. MetLife
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