Incorporating an irrevocable trust into your estate plan can entail a lengthy and challenging process, from crafting a strategic blueprint aligned with your unique financial objectives to navigating the maze of IRS reporting protocols. Gift tax reporting of transfers to trusts can be complicated and may have considerable tax penalties. Read this article to learn how to navigate the trust creation and funding process to be aligned with IRS reporting requirements and whether you should consider working with a valuation professional. New York Life Insurance Company and its agents do not provide tax, legal or accounting advice.
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The Nautilus Group® is a service of New York Life Insurance Company. New York Life Insurance Company and its affiliates and agents and employees thereof do not provide tax, legal, or accounting advice. Individuals should consult with their own tax, legal or accounting professionals before implementing any planning strategies. SMRU 5018918 Exp. 04/30/2028
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