Gift Trusts for Minors Line by Line: A Detailed Look at Gift Trusts for Minors and How to Create Them to Meet Your Needs

Gift Trusts for Minors Line by Line offers a practical, in-depth guide for those seeking to transfer assets to benefit minors. The book describes the tax and economic advantages of gift trusts for minors as well as the risks and limitations to consider before creating such trusts. Practitioners will appreciate the side-by-side comparison of the two most commonly used minors trusts: the 2503 (c) Minor's Trust and the Crummey Trust, including full sample forms for each. This book goes beyond the basics for qualifying a minor's trust for tax benefits; it offers customized, alternative provisions to address special circumstances, such as holding family business interests for minors and designating successor trustees. Whether the primary objective for creating a minor's trust is to provide resources to children for use in meeting future expenses or to build wealth that can be transferred for multiple generations, Gift Trusts for Minors Line by Line should be a primer.

A CD-ROM is included, which provides searchable PDF and Word versions of the book with a sample agreement.

About the Authors

Patricia H. Char is a partner at K&L Gates LLP in Seattle, Washington. Her practice includes business succession issues, estate planning, trust and probate administration, charitable gift planning, gift and estate tax, and trust and estate disputes. She is a fellow of the American College of Trust and Estate Counsel and serves on the governing board of the Seattle Children's Hospital.

Sandra K. Newman is a partner at K&L Gates LLP in Chicago, Illinois. Her practice includes wealth preservation, tax planning for individuals and entities, complex estate and trust administration, business succession planning, and charitable giving. She is a member of the Professional Advisory Committee for the Chicago Community Trust and a member of the Planned Giving Council for the Goodman Theatre in Chicago.