Trustees managing taxes? Use the 65 day rule

Trustees trying to manage the tax burden of a complex trust should be familiar with the 663(b) election, also known as the 65 day rule. Making this election can often help to lower the overall tax burden of the trust and its individual beneficiaries. Trusts pay tax at the highest tax rate of 39.6% when …

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Plan Transfers

In today’s market the mergers and acquisitions of businesses are on the rise.  If the company maintaining your 401(k) plan is purchased, or merges with another company, what issues should you be considering?  There are risks associated with the accounting of plan transfers that the plan administrator should be aware of.  Plan transfer risks include: …

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