A transfer in trust in which the trustee has the power to accumulate income is a gift of a future interest even if the trustee never exercises the power.

Name: A transfer in trust in which the trustee has the power to accumulate income is a gift of a future interest even if the trustee never exercises the power.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is because the beneficiary does not have a right to receive the income until the trustee exercises their power to accumulate it, making it a gift of a future interest.

A Transfer in Trust in Which the Trustee Has the Power