The Crummey trust: Still relevant after all these years
Traditionally, trusts used in estate planning contain “Crummey” withdrawal powers to ensure that contributions qualify for the annual gift tax exclusion. Today, the exclusion allows you to give up to $15,000 per year ($30,000 for married couples) to any number of recipients.
Now that the gift and estate tax exemption has reached an inflation-adjusted $11.4 million, fewer people have t...