Date of Award


Document Type

Independent Study

Degree Name

Master of Science (MS)


The general purpose of this paper "Trusts and Their Tax Saving Advantages" is to transmit to the reader information regarding the taxation of trusts. It is not the idea to be specific in all chapters of the paper, but the reader, upon completion, should have more than a general knowledge of trust taxation. A comprehensive paper regarding all the specific points covering all types of trusts would be impractical.

This paper covers the definition of terms relative to the trust relationship, the tax advantages available to trusts, the mechanics involved regarding the gross income, deductions, and allowances contained in the Internal Revenue Code and a discussion of the popular Short Term or Clifford Trust. The paper has been written with the approach of consolidating the opinions of a number of expert tax attorneys who have written numerous books and articles on the subject of trust taxation. This method or approach should give the best possible interpretations of the Internal Revenue Code and the court cases which are a part of our tax law by judicial interpretation.