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However, a revocable trust can provide language to create sub-trusts upon the death of a grantor (e.g. credit shelter or other irrevocable trusts) that can preserve or reduce future estate tax ...
It’s important to speak to a lawyer and tax accountant or tax attorney to discuss the tax ramifications of an irrevocable trust. An irrevocable trust can also protect the beneficiary’s ...
One key thing to decide is whether to establish a revocable or irrevocable trust. Both have … Continue reading → The post Revocable vs. Irrevocable Trusts appeared first on SmartAsset Blog.
A trust is an estate planning tool that you may consider using if you want to go beyond drafting a last will and testament. One key thing to decide is whether to establish a revocable or ...
Estate planning is a crucial part of any holistic financial plan. As a financial advisor, you could direct your clients to an estate planning attorney for guidance in this area, but while ...
This may even include situations where there may be a conflict in the grantor's direction and the actual terms of the trust. [15] In an irrevocable trust, there has developed a growing use of a so-called trust protector. This is generally an unaffiliated, third party (often a lawyer or an accountant) who is granted the power to amend or change ...
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