Private Annuity Trusts Await IRS Rule

Estate planners have largely stopped creating new private annuity trusts as they await a ruling next month that could limit the tax benefits of the trusts dramatically.

Private annuity trusts had been an increasingly popular vehicle for deferring taxes on the sale of property and other assets. But the Internal Revenue Service and U.S. Treasury Department issued a proposal in October that could make them much less attractive.

Private Annuity Trusts Await IRS Rule
Source: PR Newswire