Reported about 1 year ago
The Secretary-General of the Trust Association, Lü Hui-Rong, mentioned that trust property can now be used to pay funeral expenses within the deduction limit, marking a significant breakthrough. Previously, the complicated process hindered using trust funds for this purpose. Thanks to recent efforts supported by legislators, the Ministry of Finance has agreed to this new arrangement. This change was initiated after a meeting held in response to challenges faced by the parents' association of intellectually disabled individuals, where the Trust Association, Ministry of Finance, and other agencies discussed and clarified issues surrounding trust execution. The new interpretation allows for utilizing trust property for funeral expenses within the deduction limit, a process previously impeded by banking and trust regulations.
Source: YAHOO