Of Counsel

Brian T. Whitlock Discusses Effective Planning for Fiduciary Income Taxation of Simple Trusts

March 30, 2023

Golan Christie Taglia partner Brian T. Whitlock explains how the three elements of what is called the Devil’s Triangle – Fiduciary Accounting Income, Trust Taxable Income and Distributable Net Income – can be best manipulated for effective planning for the fiduciary income taxation of Simple Trusts in a recent article in TAXES - The Tax Magazine from CCH Incorporated.

The article, “Untaxingly Yours: Fiduciary Income Tax – Blocking and Tackling for Simple Trusts,” was co-authored with Morgan C. York and details how this Blocking and Tackling of these elements helps grow the assets of a Simple Trust.

The name “Devil’s Triangle” comes from the joke that it’s a “devil of a time” remembering these three elements and keeping them straight.

Read the full article here.

Brian provides wealth transfer strategies for high-net-worth individuals, strategies for business succession planning and the administration and tax compliance of trusts, estates and exempt organizations. He is also an adjunct member of the faculty at the Northwestern University Pritzker School of Law.

For more than 25 years, Golan Christie Taglia has remained committed to delivering successful results while providing clients with the highest level of quality and personal service. With a wide variety of clients including entrepreneurial businesses, high-net-worth individuals and non-profit organizations, GCT provides leading counsel in a broad array of practice areas from both our Chicago and Springfield offices.

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