2023

When Should an IRC Section 645 Election be Made? Almost Always!

California Trusts & Estates Quarterly, Volume 29, Issue 4
Lindsey A. Kernan

Private Wealth Service attorney Lindsey Kernan co-authored an article included in California Trusts and Estates Quarterly, published by the California Lawyers Assocation. The article examines a case involving the taxation of trusts and estates after the grantor's death. Ms. Kernan explores how an Internal Revenue Code (IRC) Section 645 election can provide federal income tax relief for a decedent's qualified revocable trust. She also explaines the mechanics of making the election, plus instances when the action would not be in the party's best interest.

READ: When Should an IRC Section 645 Election be Made? Almost Always! (Subscription required)

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