Tag: trusts


Ease itemized deduction limitations using a nongrantor trust

The record-high exemption amount currently in effect means that fewer families are affected by gift and estate taxes. As a result, the estate planning focus for many people has shifted from transfer taxes to income taxes. A nongrantor trust can … Read More »

June 13th

Estate Planning Briefs. Comments Off on Ease itemized deduction limitations using a nongrantor trust


Estate planning for single parents requires special considerations

Here’s a fast fact: The percentage of U.S. children who live with an unmarried parent has jumped from 13% in 1968 to 32% in 2017, according to Pew Research Center’s most recent poll.

While estate planning for … Read More »

April 26th

Estate Planning Briefs. Comments Off on Estate planning for single parents requires special considerations


Add spendthrift language to a trust to safeguard assets

Protecting assets from creditors is a critical aspect of estate planning, but you need to think about more than just your own creditors: You also need to consider your heirs’ creditors. Adding spendthrift language to a trust benefiting … Read More »

April 11th

Estate Planning Briefs. Comments Off on Add spendthrift language to a trust to safeguard assets


Properly funding your revocable trust is the key to unlocking its benefits

If your estate plan includes a revocable trust — also known as a “living” trust — it’s critical to ensure that the trust is properly funded. Revocable trusts offer significant benefits, including asset management (in the event you become incapacitated) … Read More »

March 28th

Estate Planning Briefs. Comments Off on Properly funding your revocable trust is the key to unlocking its benefits


Moving a trust over state lines can offer tax savings and other benefits

People who live in states with high income taxes sometimes relocate to a state with a more favorable tax climate. A similar strategy can be available for trusts. If a trust is subject to high state income taxes, you may … Read More »

March 7th

Estate Planning Briefs. Comments Off on Moving a trust over state lines can offer tax savings and other benefits


Building an on-off switch into your estate plan

The right estate planning strategy for you likely is the one that will produce the greatest tax savings for your family. Unfortunately, there can be tension between strategies that save estate tax and ones that save income tax. This is … Read More »

February 7th

Estate Planning Briefs. Comments Off on Building an on-off switch into your estate plan


If you’re driven to transfer a vehicle’s ownership to a trust, know the risks

A revocable trust — often referred to as a “living trust” — can help ensure smooth management of your assets during life and avoid probate at death. And you may know that the trust isn’t effective unless you “fund” it … Read More »

January 3rd

Estate Planning Briefs. Comments Off on If you’re driven to transfer a vehicle’s ownership to a trust, know the risks


How incomplete nongrantor trusts can help avoid state income taxes

With the federal gift and estate tax exemption at $11.40 million for 2019, people whose estates are below the exemption amount are shifting their focus to income tax reduction. High-income taxpayers — particularly those who live in high-income-tax states — may … Read More »

December 6th

Estate Planning Briefs. Comments Off on How incomplete nongrantor trusts can help avoid state income taxes


Protect your peace of mind with a trust protector

Irrevocable trusts can allow for the smooth, tax-advantaged transfer of wealth to family members. But there’s a drawback: When you set up an irrevocable trust, you must relinquish control of the assets placed in it. What you can control is … Read More »

August 9th

Estate Planning Briefs. Comments Off on Protect your peace of mind with a trust protector


Provide for family members with special needs using an SNT

If you have a child or other family member with a disabling condition that requires long-term care or prevents (or will prevent) him or her from being able to support him- or herself, consider establishing a special needs trust (SNT). … Read More »

August 6th

Estate Planning Briefs. Comments Off on Provide for family members with special needs using an SNT

HOBERMAN & LESSER, LLP