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A dynasty trust is a trust designed to avoid or minimize estate taxes being applied to family wealth with each subsequent generation. [1] By holding assets in trust and making well-defined (or even no) distributions to beneficiaries at each generation, the assets of the trust are not subject to estate, gift or generation-skipping transfer tax (GST) taxes.
The dad wanted to keep things simple and not use a trust. Instead, he made his brother the beneficiary and told his brother to hold onto the money for his son. The next year, the dad died, and his ...
The beneficiaries of a trust are the beneficial owners of equitable interests in the trust assets, but they do not hold legal title to the assets. Thus this kind of trust fulfills the goal of asset protection planning, i.e. to insulate assets from claims of creditors without concealment or tax evasion.
In trust law, a spendthrift trust is a trust that is created for the benefit of a person (often unable to control his/her spending) that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary.
Continue reading → The post Quicken Willmaker & Trust Review: Pros & Cons appeared first on SmartAsset Blog. However, the brand can also help you take care of your estate planning needs. Quicken ...
Continue reading → The post Trust & Will Review: Pros & Cons appeared first on SmartAsset Blog. Trust & Will is an online estate planning platform that allows you to create documents such as ...
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 the terms of the trust in order to accommodate unexpected changes in tax or fiduciary law, unexpected changes in the trust's ...
The post Pros and Cons of Investing in a Real Estate Investment Trust (REIT) appeared first on SmartReads by SmartAsset. Pros and Cons of Investing in a Real Estate Investment Trust (REIT) Skip to ...