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348 items found for "generation skipping trust"

  • Why Estate Planning Is Essential for Unmarried Couples

    Revocable Trust A revocable trust can be especially important for unmarried couples. By using a trust and skipping probate, your assets also remain private.

  • Special Needs Estate Planning: Basic Strategies and Tactics

    directly, consider establishing a first-party supplemental (special) needs trust. The trust can be established by the individual or their guardian and, when properly drafted, will not Create a Third-Party Special Needs Trust Establishing a third-party supplemental (special) needs trust by the creator of the trust. Transfers to a special needs trust generally incur no penalty.

  • Estate Planning for High-Net-Worth Individuals

    You can use trusts, LLCs, and other entities to shield your wealth and ensure it is passed on to your You can establish trusts, set up guardianships, and make charitable donations to ensure your assets are Several common strategies can be used in high-net-worth estate planning to achieve your goals: Wills and trusts — A will outlines how you want your assets to be distributed after your death, while a trust can help Trusts can also help you avoid probate and minimize taxes.

  • Saints Owner Will Call Another Play in Fight Over Trusts

    Orleans Saints owner Tom Benson’s original proposal to remove team ownership from his estranged family’s trust t let Benson personally guarantee promissory notes he offered in exchange for Saints shares held in trust he intends to leave full ownership of the Saints to his wife Gayle and has been trying to revoke the trust The trust funds allow for assets to be removed, but only in exchange for other assets of equal value. With that arrangement, the trusts could try to seize Benson’s personal assets—including the controlling

  • Which Trust is Right for Me?

    structure of a family trust is critical in how the trust gets taxed. can generally include provisions that will keep things simple for at least some of the trust’s existence That means that revocable trusts will typically qualify as grantor trusts. grantor trust status. The trust generally must pay income tax on any income its assets generate.

  • Houston Will Lawyer: Estate Planning Is About Creating Your Legacy

    A Houston will lawyer can also help you with setting up a family trust that can be used to further causes If you are unsure of how or why you should set up a family trust to create your legacy, definitely take

  • Navigating the Estate Planning Landscape

    increase also means that the lifetime tax exclusion for gifts will rise to $12,060,000, as will the generation-skipping

  • 5 Reasons You Need An Estate Plan

    An estate plan typically includes: A Last Will and Testament A Trust A Medical Power of Attorney A Statutory does not have a transfer tax, but an estate planning attorney can help explain things like the federal generation-skipping Others create family foundations or set up charitable trusts. You can also establish a charitable remainder trust (CRT) which gives beneficiaries a stream of income says preserving family relationships after they’re gone is as important to them as preserving future generations

  • What Happens When You Die Without A Will In Texas?

    Understanding Intestate Succession Laws in Texas In Texas, when a person dies without a valid will or trust Generally, this is what would happen: Any surviving spouse has rights to a portion of your estate. of properly after your passing, it is important to make provisions for them in a will or, better, a trust You can set up trusts or designate beneficiaries in your will to ensure that their needs are met. This includes making a will, setting up trusts, designating beneficiaries for retirement accounts and

  • Which Will is the Right Fit? Breaking Down the Basic Types

    Thus, holographic wills are generally best reserved for smaller, simple estates. according to the trust agreement. Key Features Include: Assets transfer to a living trust. Trust handles principal distributions. Will ties up loose ends. trust with precision while unfunded assets will be in probate court and poured back into the trust.

  • Review Your Old Trusts

    However, as Kiplinger’s Retirement Report points out in “Old Trusts Create Tax Issues for Heirs,” estate tax laws have changed significantly since the time when many of these trusts were created. The problem for irrevocable bypass trusts is that assets in them do not receive the step up basis for laws are actually creating a greater tax burden now and they would be better off without the bypass trusts For example, in blended family situations, the irrevocable bypass trust may be the appropriate solution

  • Family Matters: Planning Mistakes Small Business Owners Should Avoid

    business and want to set your family up for a bright future, avoid these common planning mistakes: Skipping

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