With Republicans in control of Congress and the presidency, there is talk of eliminating the federal estate tax, which in 2017 affects only estates over $5.49 million, fewer than 1 percent of estates. With no estate tax, do you still need a trust?
There are a number of different kinds of trusts, but they fall into two basic categories: testamentary and inter vivos.
Trusts and limited liability companies (LLCs) are both legal vehicles that can be used to manage and protect assets, minimize taxation, and avoid probate. Whether a trust or an LLC…
There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you.
Revocable trusts are an effective way to avoid probate and provide for asset management in the event of incapacity as well as achieve many other goals, including tax, long-term care, and asset-protection planning.
Parents and other family members who want to pass on assets during their lifetimes may be tempted to gift the assets. Although setting up an irrevocable trust lacks the simplicity…
