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View Full Version : What possible tax might be due as a consequence of giving money to another party to b


youthfulvocatio
Jul 25, 2017, 12:08 PM
If I establish a revocable living trust using a trusted friend as both grantor and trustee and myself as beneficiary and fund that trust with a bank account opened in the name of the trust, is there any potential tax ramification to consider other than a gift tax on my money transfer to my grantor?

AtlantaTaxExpert
Aug 1, 2017, 06:38 AM
That is an exceptionally complex tax question which cannot be properly answered without having detailed knowledge of your total financial situation. Given these facts, I cannot give a concise answer.