Donna contributes money to ABC trust. Mike has the authority, as trustee of the ABC trust to determine during his lifetime, who shall get the assets of the trust upon Mike’s death.
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Get it written →Donna contributes money to ABC trust. Mike has the authority, as trustee of the ABC trust to determine during his lifetime, who shall get the assets of the trust upon Mike’s death. However the trust only allows him to appoint the assets ‘ to or among Mike’s children and grandchildren. Are the assets in ABC trust considered part of Mike’s taxable estate?
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