Trust Taxes vs Personal Taxes: What You Need to Know?

Trust Taxes vs Personal Taxes: What You Need to Know?
In this video, Castle Wealth Group Legal explores the topic of how Trusts are taxed on income and dividends distributed to beneficiaries. It depends on the structure of the trust, but the goal is often to have the Income taxed at the Personal Income Tax level rather than the Trust Tax level.
Why? Trusts can reach the highest tax bracket (37%) quickly, with just over $15,200 in Income. In contrast, individuals or married couples need significantly higher income levels to reach the same tax bracket.
Our legal experts explain why most trusts we draft-whether for asset protection or as legacy trusts for beneficiaries-are designed to ensure income is taxed at the personal level. This strategy avoids the high trust tax rates and provides better tax efficiency for beneficiaries.
Watch the video to learn more about how we structure trusts to minimize tax liabilities and ensure your assets are protected for future generations.
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Certified Elder Law Attorney™ and Certified Financial Planner™
Castle Wealth Group - Helping Good Families Plan, Protect and Preserve What is Important
(844)-885-4200 | CastleWealthGroup.com | MichiganEstatePlanning.com
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Advisory services are offered through Castle Wealth Group Investments, an Investment Advisor in Michigan. Insurance products and services are offered through Castle Wealth Group, an affiliated company. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or an indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital. Insurance products and services are offered through Castle Wealth Group, an affiliated company.
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