Currently viewing the tag: "heirs"

In Trusts We Trust: Day 53

February 2, 2012 by

Tax By-Pass Trust Tax By-Pass Trusts are trusts that are irrevocable, meaning they can’t be changed once they are created, and the terms must be carried out.  In some cases where circumstances make carrying out the terms of the trust uneconomical or too difficult a court may step in to allow the terms to be […]

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In Trusts We Trust: Day 43

January 18, 2012 by

Purpose Trust Like an Incentive Trust, in a Purpose Trust, assets can be held in trust for a particular purpose, like paying for a person’s education. What separates a Purpose Trust from any other type of Trust arrangement is that the beneficiaries must adhere to specific requirements set out by the grantor in order to […]

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In Trusts We Trust: Day 37

January 10, 2012 by

Incentive Trusts, Day Two What separates an Incentive Trust from any other type of Trust arrangement is that the beneficiaries must adhere to specific requirements set out by the grantor in order to receive assets from the trust.  In this type of trust, specific language is put into the Trust that incentivizes a beneficiary to […]

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In Trusts We Trust: Day 36

January 9, 2012 by

Incentive Trusts, Day One What separates an Incentive Trust from any other type of Trust arrangement is that the beneficiaries must adhere to specific requirements set out by the grantor in order to receive assets from the trust. Sure, like all Trusts, an Incentive Trust is a legally-binding legal tool in which a designated trustee […]

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In Trusts We Trust: Day 35

January 7, 2012 by

Life Insurance Trust A Life Insurance Trust is often chosen because it allows a grantor to exclude their life insurance from their taxable estate.  In addition, a Life Insurance Trust, can assist your heirs by providing them with an immediate influx of un-taxable cash, as well as helping to pay estate fees.  The proceeds from […]

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In Trusts We Trust: Day 29

December 28, 2011 by

Heritage Trusts “How do I ensure my assets stay in my family?” is one of the estate-planning questions I’m most frequently asked.  I want to answer this question publicly, precisely because it is so common.  The irony is, however, that many clients ask to speak with me about the subject, believing that it is a […]

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In Trusts We Trust: Day 27

December 26, 2011 by

Grantor Retained Income Trust (“GRIT”) As we continue on in our educational series on Trusts, today we cover Grantor Retained Income Trusts. A Grantor Retained Income Trust is a type of split-interest trust that can be used to move potential gain out of the grantor’s estate, thereby escaping higher taxes at time of death. On […]

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In Trusts We Trust: Day 21

December 13, 2011 by

Dynasty Trusts, Day Five For the past several days I’ve been covering Generation-Skipping Transfer Trusts, which are also known by the name ‘Dynasty Trusts.’  Today’s posting will address how you may take advantage of this technique in your financial planning. When clients or potential clients first meet with us one of the things they most […]

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In Trusts We Trust: Day 19

December 9, 2011 by

Dynasty Trusts, Day Three For the past few days we’ve been posting a series about Generation-Skipping Transfer Trusts, which are also known by the name ‘Dynasty Trusts.’ Today’s posting begins with the most important thing to know regarding estate planning: estate planning is really not a do-it-yourself proposition.  Although there are many free wills and […]

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In Trusts We Trust: Day 18

December 8, 2011 by

Dynasty Trusts, Day Two Yesterday we started a series of posts about Generation-Skipping Transfer Trusts, which are also known by the name ‘Dynasty Trusts.’  So where to begin today as we explore what these trusts are and what they might provide for you?  I’ll begin where many of my clients and potential clients begin when […]

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