Inheritance tax is often called a voluntary tax. Do the rich lose all their money when somebody in the family dies? Of course not! Why should you lose a dime? How to Avoid Paying Inheritance Tax It’s easy to know how to avoid inheritance tax. The terms
To Use a Domestic Asset Protection Trust or NOT! Revocable Trusts Aren’t Asset Protection Trusts Lots of people establish a living revocable trust thinking they are creating some sort of a domestic asset protection trust. A revocable trust is not an asset protection trust. Living trust asset
The definition of a spendthrift trust is kind of ambiguous. There aren’t really spendthrift trusts, like there is an insurance trust, children’s trust, living revocable trust, or charitable remainder trust. Let’s start with the definition of a spendthrift. Spendthrift Definition A spendthrift is someone who can’t manage
When you set up a living revocable trust, you’ll almost always be the original trustee. When you die, you’ll name a successor trustee. When your parents die, you may be named as their successor trustee. Nobody ever sits you down and explains the trustee liability you are
