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But there may still be good reasons to use them.

The bottom line? Alter ego trusts don't offer tax benefits. Each year, the income of the trust will be taxed in the settlor's hands, and upon the settlor's death (or the death of the second spouse or partner in the case of a joint partner trust), there will be a deemed disposition of the assets of the trust, creating a tax liability at that time inside the trust. Now, the trust is taxed like other inter-vivos trusts (trusts created during the settlor's lifetime) at the highest marginal tax rate. This is not the case with transfers to most trusts. It's possible to set up a "joint partner trust," which is the same as an alter ego trust except that both partners (married or common law partners) have a right to the income of the trust annually, and no one but those two individuals has a right to the capital of the trust while either of them is still alive.Īlter ego trusts are special in that it's possible to transfer assets to the trust without triggering tax on accrued gains on the assets. Further, no one but the settlor can have a right to the capital (assets) of the trust while he or she is alive. This edition includes an updated interface and fixes bugs in the original version of the game, but the content of the game hasn't changed from the original 1986 version of the game.Alter ego trusts are trusts, created after 1999, where the settlor (the person who creates the trust) is the sole person who has a right to all the income of the trust each year. The current edition of the Alter Ego game is a production of Choose Multiple LLC. ( Alter Ego was originally published in 1986 for the Commodore 64, MS-DOS, Apple II, and Macintosh. Will you grow up to be confident and happy? Will you fight with bullies, or befriend them? Will you find a date to the senior prom? Will you marry and have kids, or start your own business and become a millionaire? The choice is yours. Alter Ego starts at birth and ends at death, including two substantially different versions, depending on whether you choose to be male or female. It's in the style of pick-a-path gamebooks, but with over a thousand multiple-choice questions, it's much longer and deeper than traditional gamebooks. In this text-based interactive fiction, you choose what happens next. What if you could live your life over again?