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Gerry W. Beyer is an American lawyer, academic, and author. He is the Governor Preston E. Smith Regents Professor of Law at Texas Tech University School of Law. [1]Beyer is most known for his work in estate planning, trusts, wills, and related fields.
Estate planning is the process of anticipating and arranging for the management and disposal of a person's estate during the person's life in preparation for future incapacity or death. The planning includes the bequest of assets to heirs, loved ones, and/or charity, and may include minimizing gift, estate, and generation-skipping transfer taxes.
The property subject to the trust must be clearly identified (Palmer v Simmonds). One may not, for example state, settle "the majority of my estate", as the precise extent cannot be ascertained. Trust property may be any form of specific property, be it real or personal, tangible or intangible. It is often, for example, real estate, shares or cash.
Trusts are a helpful estate planning tool for avoiding probate, financially providing for minor children, and managing assets for individuals who cannot do so themselves. Power of attorney .
For example, the federal estate tax rate ranges from 18% to 40%, depending on the estate’s value. Estate planning strategies: You can gift your assets during your lifetime or set up trusts ...
One of the common estate planning tips for investors is to get a trust to protect their assets. However, that advice is hardly specific enough. There are many types of trusts, and each has its ...
The allodial or fee simple interest is the most complete ownership that one can have of property in the common law system. An estate can be an estate for years, an estate at will, a life estate (extinguishing at the death of the holder), an estate pur autre vie (a life interest for the life of another person) or a fee tail estate (to the heirs ...
Residence trusts in the United States are used to transfer a grantor's residence out of the grantor's estate at a low gift tax value. Once the trust is funded with the grantor's residence, the residence and any future appreciation of the residence are excluded from the grantor's estate, if the grantor survives the term of the trust, as explained below.
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