Legal Question in Wills and Trusts in Utah
How much money can you receive from a trust without it being taxed?
Asked on 7/27/09, 1:51 pm
1 Answer from Attorneys
Randy Lish
Randy M. Lish, Attorney at Law
Each individual may pass $3,500,000 without owing an estate tax. This amount may go to as amny individuals or entities as the deceased wishes. There is no tax on the amount an individual receives, whether from a probate estate or a trust. There may be income tax due and owing on the amount distributed from a trust, if it has not already been paid.
Answered on 8/10/09, 3:42 pm