Q: My father wants to create a trust fund for us in Colorado for his assets. What taxes will be assessed when he is gone?
A: I don't know Colorado stae law.on federal level, the taxes can be a bit confusing, because the language of the trust can invoke one of two different tax tables. One table causes taxes at nearly 40% with barely over $10,000 in taxable income. The other is ar more forgiving. You need a trust lawyer to help set this up carefully.
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