[IMGCAP(1)]The recent IPO by Facebook founders led to their creation of grantor trusts to avoid paying taxes of at least $200 million. It underlined new uses of a technique that has been around for a long time. Grantor trusts, including defective trusts, are still the hot new thing.
The idea of trust law originated in the Middle Ages in the English legal system to protect landowners who went off to fight in the Crusades from losing their properties. The current treatment of trusts in the U.S. has been around since their recodification in 1954.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access