Higher exemptions and new state tax rules mean many legacy trusts now create problems instead of solving them for clients ...

In establishing and funding an irrevocable trust, a common question is who is responsible for the income tax liabilities associated with the trust? Many individuals assume that the trust is a separate ...

In an ILIT, the grantor or creator of the trust cannot change the terms or beneficiaries of the trust, just like any irrevocable trust. However, grantors may place one or more life insurance policies ...

Generally, the income earned by an irrevocable trust is subject to state income tax in addition to federal income tax. Making strategic decisions in establishing your client’s trust, such as selecting ...

While both types of trusts have similar benefits like avoiding probate and reducing tax burdens, these trusts have nuances that must be seriously considered, as these can impact investors’ financial ...

A typical challenge encountered by estates of varying sizes and complexities is the lack of liquidity to cover the costs of estate administration. These expenses may satisfy just debts to creditors or ...

Protect your family's wealth with an Irrevocable Life Insurance Trust (ILIT)! Learn how to legally avoid estate taxes and ...

For clients waiting to see if Congress will extend or cut the lifetime gift and estate tax exclusion next year, setting up an irrevocable trust now can be a base-covering estate planning option.

n tumultuous economic times, intentionally defective irrevocable trusts (IDITs) offer taxpayers a powerful triple play: an estate-freeze and wealth-transfer technique, as well as an estate planning ...

When planning for the future, many people use trusts as a way to manage their assets, avoid probate, and protect their loved ones. But not all trusts are created equally. Determining which estate ...