By TurboTax Family trusts offer a solution for managing assets, like homes or investment portfolios. Learn how to navigate the tax implications of family trusts. For information on the third coronavirus relief package, please visit our “American Rescue Plan: What Does it Mean for You and a Third Stimulus Check” blog post. While each family trust is different, they all generally come with tax liabilities for either beneficiaries or grantors. The details vary based on the specific trust and how it is set up. Let’s gather an understanding of how a trust works. Our TurboTax Live experts look out f…