Which of the following is the most accurate statement concerning the use of trusts in tax planning?

Question

Quizplus · Accepted Answer

While trusts can still be used for tax planning purposes, the primary reasons for creating trusts today tend to be nontax reasons such as avoiding probate or protecting assets. Additionally, while the grantor trust rules do allow for income shifting, this is not the primary use of trusts and the large 15% tax bracket for trusts is not necessarily a benefit for all types of trusts. Therefore, option A is the most accurate statement.

Which of the Following Is the Most Accurate Statement Concerning