PLR 201829005: Nonjudicial Settlement of GST Trusts Had No Adverse GST Implications

In PLR 201829005, the Service ruled that a nonjudicial settlement agreement modifying a trust to provide an orderly succession of trustees didn’t adversely impact the trust’s GST exemption. The Service noted that the trust became irrevocable after September 25, 1985, the proposed nonjudicial settlement would not shift any beneficial interest in the trust to a lower generation beneficiary than before the nonjudicial settlement, and it did not extend the time that beneficial interests could set under the trust.

Click here to view PLR 201829005.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.


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