Downs Law Firm, P.C.

Trustee

trusts work for regular folks

Trusts Work for Regular Folks

When you hear the word trust fund, you might think of wealthy kids a big chunk of cash on their 25th birthday. However, trust funds aren’t just for the rich. They are flexible tools to protect your loved ones.

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trust beneficiary pays income taxes

Does a Trust Beneficiary Pay Income Taxes?

Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust’s income rather than the trust itself paying the tax. However, such beneficiaries are not subject to taxes on distributions from the trust’s principal.

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