CRT safe harbor for spousal rights extended - waivers not required.(charitable remainder trusts)

Tax Adviser, The, May, 2006 by Shafer, Frances; Sherr, Eileen

In response to requests by the AICPA (https://tax.aicpa.org/Resources/Trust Estate and Gift/Trusts/), the AICPA thanked the Service for this notice and for responding to its concerns and adopting (until further study) its recommendation of extending the safe harbor to all trusts regardless of the creation date. Also, because a spousal waiver requirement could potentially affect all CRTs, the AICPA suggested that any future guidance in this area be published in proposed form, thereby allowing practitioners an opportunity to comment on its feasibility before it becomes effective.