This trust method is named after the taxpayer who established the tax treatment of this kind of trust in tax court, a Crummey trust is a special kind of non-charitable irrevocable trust. The trust is designed to give its beneficiary just enough access to its assets that contributions made to the trust on the beneficiary’s behalf qualify for the annual gift tax exclusion. The annual gift tax exclusion in 2019 is $15,000. This amount is indexed for inflation.
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