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Trusts are often the less recognized and discussed aspect of estate planning. This is unfortunate because trusts can accomplish many things when properly utilized and implemented. A trust can help you avoid the costs and delays of probate. A trust can also have significant tax benefits as well as helping you secure the...

A Last Will and Testament, simply referred to as a “will,” is probably one of the most notable estate planning tools. Most people know the basics of a will and think of it only in terms as a way to tell everyone else who you want your property to go to after you...

During the estate planning process, the benefits, as well as the importance of various legal tools, are discussed. The potential advantages of having different types of trust arrangements is also evaluated. Revocable trusts, for example, are often included in estate plans as a means of avoiding the probate process for the assets...

While trusts may be often discussed as being included in an estate plan, the tax consequences of a trust are not always addressed. This is unfortunate because trusts can have significant tax implications for both grantors and beneficiaries. Here, we will address how irrevocable trusts are taxed. How Are Irrevocable Trusts Taxed? An irrevocable trust...