Legal Question in Wills and Trusts in California

Irrevocable Trust/Crummy Notice

What is a Crummy Notice and what is its function.


Asked on 7/18/08, 10:04 pm

1 Answer from Attorneys
Mitchell Roth MW Roth, Professional Law Corporation

Re: Irrevocable Trust/Crummy Notice

The "Crummy" provisions named after the IRS court case involving Dr. Crummy's trusts) allow the beneficiaries to withdraw the gifts to the trust if they want to. Allowing immediate withdrawal turns the gifts into "present interests." They are used in Insurance trusts.

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Answered on 7/19/08, 2:31 pm


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