Trusts are often established as part of the estate planning process, and can be used as a tax-efficient means of passing on assets such as land, money and shares. They allow the person responsible for setting up the trust to retain a degree of control as to the way in which the assets...
When my elderly clients come in for estate planning. Many of them want to save money by doing only a Last Will and Testament. I ask them what they want to do with their stuff when they die. Their reply, without fail is “of course, I want to leave all my stuff to my spouse and...
There are a variety of estate planning tools that can help protect your assets – physical property or investments – so that they can be inherited. What Is a Trust? A trust is a legal entity created to hold assets for the benefit of someone other than the creator. Almost anything can ...
The Importance of Trusts in Estate PlanningSusan Peckett Witkin
may be the right choice for some estate plans, but it is not the best for everyone. When choosing a revocable living trust as the primary estate planning instrument, we recommend a pour-over will. This means that you would need to have both a will and trust created, which may increase ...
As for most people, trust is a financial vehicle for the privilege, especially in estate planning. However, it has been argued that it is more efficient as it also reduces taxes, as well as lessen the potential for legal disputes. Furthermore, thorough elaboration of each advantage of trusts...
A lot of estate planning lawyers have paid for their luxurious lifestyles by leading clients down the wrong path, which is probate. If you challenge one of these estate planning lawyers on this topic, they might state that a living trust is more expensive, but that’s only the case upfront...
At Shipleys, we have a long history of providing trust and estate planning advice to our clients. We also handle administration and tax compliance. Trust planning From the outset, we can provide advice on the most suitable trust structures for you to control the transfer of personal and busine...
Estate planning We will help you articulate your goals and intentions regarding your estate plan. We excel in facilitating discussions with your tax and legal professionals to establish the right plan for you and follow through with implementation. ...
142Accesses Abstract Every family should have a will, of course, and even smaller families may have a trust or two. But ultra-wealthy families will have estate and tax plans that are vastly complex. It’s not at all unusual, for example, to encounter an ultra-wealthy family that has hund...