What is the name of your state (only U.S. law)? NH
I am a trustee an irrevocable trust (real estate) which expires soon. The beneficiaries and myself unanimously want to continue the trust as is.
My lawyer suggests creating a new trust and the old trust "selling" the assets to the new trust right before termination. Is this a taxable event, either
capital gains or estate wise?
I am a trustee an irrevocable trust (real estate) which expires soon. The beneficiaries and myself unanimously want to continue the trust as is.
My lawyer suggests creating a new trust and the old trust "selling" the assets to the new trust right before termination. Is this a taxable event, either
capital gains or estate wise?