Gift and Generation-Skipping Transfer Tax Consequences of Modifying or Decanting Trusts

In this video, Daniel G. Johnson, a Principal in Cummings & Lockwood’s Private Clients Group and based in the firm’s Stamford, Connecticut office, focuses on the important recent IRS Chief Counsel Advice Memorandum 202352018 signaling a shift in the position of the IRS concerning the gift tax consequences of trust modifications as well as gift and generation-skipping tax consequences of modifying or decanting a trust.