IEPTIndividualized Educational Planning Team
IEPTIntegrated Estate Planning Trust (insurance)
IEPTIndividual Education Planning Team (various locations)
References in periodicals archive ?
Due to the retention of certain degrees of benefit and control by the settlor, the IEPT will be a grantor trust for Federal tax purposes.
Moreover, a foreign-situs IEPT can be structured either as a foreign or domestic vehicle for Federal income tax purposes, under Sec.
Until this issue is settled, an IEPT should be drafted to avoid the application of Sec.
A properly drafted foreign-situs IEPT governed by an appropriately selected OFC will not be subject to income, gift, estate, transfer, excise or like tax in the selected jurisdiction.
Moreover, as earlier mentioned, as an international vehicle, an IEPT can hold assets in any part of the world; thus, such assets need not be physically held in the jurisdiction whose laws govern the IEPT's administration, interpretation or validity.
A properly drafted IEPT would make it factually impossible for a client to repatriate trust assets.
When an IEPT trust is poorly designed, a contempt of court order may not be far behind.