Clifford Trusts As A Tax Shelter
Clifford Trusts – Temporary Trusts To Shift Taxable Income
In the past, Clifford trusts represented a popular way of shifting income from parents to their children. The amount of income transferred was being taxable at their children’s lower rates.This type of trust was established for a period of 10 years or more.
You Can Not Shelter Any Investment Income Using Clifford Trusts
Beginning with January 1, 1987, the use of Clifford trusts has been eliminated.