there was 2.2M value in the NJ trust which we wanted to get under the 2M mark in case NJ had a problem with the trust.

we sold shares under the irrevocable trust, which was FBO for the clients children. for approx. value of 220k and then distributed to the beneficiary.

Does the trust pay the capital gains on the shares sold since it was sold in the trust…

or…

Does the beneficiary pay capital gains on the sale since they received the money?

thank you,
Douglas