Related Definitions
What is a Crummey Trust?
A trust designed to allow contributions to qualify for the annual gift tax exclusion by giving beneficiaries temporary withdrawal rights.
A type of trust that allows beneficiaries to withdraw contributions made to the trust for a limited time, enabling the donor to qualify for annual gift tax exclusions. By providing Crummey notices to beneficiaries, the trust can meet IRS requirements for present interest gifts, thus reducing the donor’s taxable estate. This strategy is often used in estate planning to minimize tax liabilities while providing for beneficiaries.
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Related Articles
Insights and advice on trust and probate estate litigation from our blog.
- Media Mentions
- 1 min read
- Published on
Matthew Bourque, Managing Partner of RMO’s Texas offices, was recently featured as a guest on the Leadership in Law podcast with host Marilyn Jenkins. [...]
Matthew Bourque, Managing Partner of RMO’s Texas offices, was recently featured as a guest on the Leadership in Law podcast with host Marilyn Jenkins. […]
- Media Mentions
- 1 min read
- Published on
In a recent article published by The Daily Upside, RMO LLP founding partner Scott Rahn discussed how the growing prevalence of cognitive decline, including [...]
In a recent article published by The Daily Upside, RMO LLP founding partner Scott Rahn discussed how the growing prevalence of cognitive decline, including […]
- Media Mention
- 1 min read
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In an episode of Probate Weekly, Scott Rahn, founding partner of RMO LLP, joined host Bill Gross to discuss the real-world role of an [...]
In an episode of Probate Weekly, Scott Rahn, founding partner of RMO LLP, joined host Bill Gross to discuss the real-world role of an […]
- Media Mention
- 1 min read
- Published on
Mathew Wrenshall, Managing Partner of RMO LLP in Pasadena, joined Bill Gross and Probate Weekly for a practical discussion on will and trust contests [...]
Mathew Wrenshall, Managing Partner of RMO LLP in Pasadena, joined Bill Gross and Probate Weekly for a practical discussion on will and trust contests […]
- Power of Attorney
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- Published on
Key Takeaways Introduction A power of attorney document grants an individual the authority to make decisions on the document creator’s behalf. The type of [...]
Key Takeaways Introduction A power of attorney document grants an individual the authority to make decisions on the document creator’s behalf. The type of […]
- News
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What happens when a law firm grows faster than its people can handle? Scott Rahn, founding partner of RMO LLP, sat down with Steve [...]
What happens when a law firm grows faster than its people can handle? Scott Rahn, founding partner of RMO LLP, sat down with Steve […]
- News
- 1 min read
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In a recent Moneywise article, RMO LLP founding partner Scott Rahn discussed the legal questions that can arise when evidence surfaces of a previously [...]
In a recent Moneywise article, RMO LLP founding partner Scott Rahn discussed the legal questions that can arise when evidence surfaces of a previously […]
- News
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RMO LLP is proud to announce that Tara Burd and Uzzell Branson have been named to the 2027 San Diego Super Lawyers list, while [...]
RMO LLP is proud to announce that Tara Burd and Uzzell Branson have been named to the 2027 San Diego Super Lawyers list, while […]
- News
- 1 min read
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Key Takeaways RMO LLP is pleased to announce that Jennifer Lefton has joined our Orange County office as a Senior Attorney. Lefton represents trustees, [...]
Key Takeaways RMO LLP is pleased to announce that Jennifer Lefton has joined our Orange County office as a Senior Attorney. Lefton represents trustees, […]
- News
- 1 min read
- Published on
Even extensive estate planning cannot guarantee that disputes will not arise after a person’s death. In a recent Billboard article examining litigation involving Dolly [...]
Even extensive estate planning cannot guarantee that disputes will not arise after a person’s death. In a recent Billboard article examining litigation involving Dolly […]
- News
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- Published on
Scott Rahn, Founding Partner of RMO LLP, was recently quoted in a MoneyLion article discussing the essential estate planning steps cryptocurrency owners should take [...]
Scott Rahn, Founding Partner of RMO LLP, was recently quoted in a MoneyLion article discussing the essential estate planning steps cryptocurrency owners should take […]
- News
- 2 min read
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In a recent U.S. News & World Report article examining the financial advantages and disadvantages of young adults living with their parents, Scott Rahn, [...]
In a recent U.S. News & World Report article examining the financial advantages and disadvantages of young adults living with their parents, Scott Rahn, […]