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Family trusts are meant to live beyond the grantor's life. A family trust has an extended lifespan that enables it to distribute assets based on designated milestones (ie., marriage, having children).
To decide if a living trust is the best option for you and your family, consult with an estate planning specialist who can help you carefully weigh your estate planning alternatives.
Assets you place into the trust are subject to whatever taxes you'd normally have to pay. If you're working and earn $150,000 a year, you can't, for example, place that money into a trust to avoid ...
A living trust is a legal arrangement that allows you to pass on assets to the beneficiaries you designate. You're able to maintain control over a trust and its assets as long as you're alive.
North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, 588 U.S. ___ (2019), was a United States Supreme Court case in which the Court held that the presence of in-state beneficiaries alone does not empower a state to tax trust income that has not been distributed to the beneficiaries where the beneficiaries have no right to demand that income and are uncertain to ...
Image source: Getty Images. Putting a living trust in place can be costlier and more time-consuming than a typical will. But there's a good reason to make that investment.
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