Cancelling Irrevocable Trust can cause Tax nightmare
Before pulling the plug on an irrevocable trust, it’s important to consider several factors like the potential tax consequences and possible alternative solutions.
September 5, 2023
Irrevocable Funeral Trust helps Families with expenses
An irrevocable funeral trust is a way of setting money aside to pay for your funeral and burial expenses.
August 14, 2023
The IRS has issued a Ruling that will impact Grantor Trusts
On March 30, 2023, the Internal Revenue Service issued Revenue Ruling 2023-2, which directly impacts a wide range of irrevocable trusts, including grantor retained annuity trusts, qualified personal residence trusts, insurance trusts and other intentionally defective ‘grantor trusts.’
July 18, 2023
What is the Purpose of a Blind Trust?
Trusts can be used to hold assets for a beneficiary, and you may hear about them when carrying out estate planning or evaluating strategies to pass investments to heirs.
June 27, 2023
Planning for Long-Term Care with Irrevocable Trusts
With the possibility of needing long-term care in the future, many people are interested in proactive planning.
April 17, 2023
Asset Protection Trusts can address Long Term Care
The idea of asset protection for the purposes of protecting against long-term care costs is becoming both more sought-after and more necessary.
April 5, 2023
Irrevocable Grantor Trust can reduce Tax exposure
When it comes to your financial legacy, business owners and executives who accumulate a significant amount of their net worth in their company’s stock rely on the current tax law stating that the basis in assets left to heirs is “stepped up” at death, to the fair market value as of the date of death.
March 16, 2023
Consider placing your Home in a Property Trust
If you have a residence you would like to pass onto loved ones after your death, and you’re worried about your home going into probate, you may want to put your home in a property trust.
March 7, 2023
Better to have a Revocable or an Irrevocable Trust?
Trusts are excellent vehicles for probate avoidance, ease of transition of funds to one’s beneficiaries upon death, asset protection planning and estate tax planning.
February 20, 2023
Avoid leaving Co-op Ownership to Heirs
In most cases, a co-op board has enormous latitude to approve or deny the transfer of a unit’s shares and proprietary lease.
January 25, 2023