At that point, beneficiaries are informed of the contribution by a Crummey letter (or notice). Typically, they have 30 to 60 days to withdraw it. Since each contribution is seen as a potential ...

Are you a “crummy” or a “Crummey” advisor? Crummy is defined as dirty, run-down, tacky, worthless or just plain lousy. On the other hand, if you’re a “Crummey” advisor, that’s a ...

There's nothing crummy about a Crummey trust—even in a period of higher exemptions for estate and gift taxes. The trusts, which got their name from a Methodist minister who won a fight with the ...

She is a library professional, transcriptionist, editor, and fact-checker. Crummey power is a legal provision that allows gifts made to an irrevocable trust to qualify for the annual gift tax ...