2503(c) Trust

A Section 2503(c) trust is a type of irrevocable trust created under the guidelines of Section 2503(c) of the Internal Revenue Code. It is specifically designed to hold and manage assets for the benefit of a minor, while allowing the contributions to the trust to qualify for the annual gift tax exclusion. This type of trust is often used as part of an estate planning strategy to transfer wealth to younger generations in a tax-efficient manner.