Abstract
American law provides a variety of mechanisms to assist the elderly. Special legislation provides particular income tax benefits, including double personal exemption deductions, the retirement income credit, and benefits for the elderly person who sells his residence. Legislation also provides income tax benefits in the area of pension planning. If an elderly person is sufficiently fortunate to have a younger relative or friend who is concerned about his welfare, he may also become the beneficiary of a short term trust. The advantages of a short term trust for both the grantor and beneficiary are sufficient to prompt an exploration of the opportunities available in the establishment of such a trust. Accordingly, this Article seeks to examine briefly the short term trust as a vehicle for estate planning. Particular emphasis is placed on the tax consequences and benefits which are inherent in such a trust and the various trust alternatives available to the estate planner advising a client interested in the short term trust.
How to Cite
17 Ariz. L. Rev. 413 (1975)
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