Advisors often include irrevocable trusts as part of a comprehensive estate plan to achieve both tax and non-tax goals. The use of irrevocable trusts can cause apprehension because of the perception that irrevocable trusts are inflexible in changing circumstances. This article explores how the use … [Read more...] about Modifying “Irrevocable” Trusts with a Trust Protector
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Changing “Irrevocable” Trusts Through Decanting
Irrevocable Trusts are often included as part of a comprehensive estate plan and are usually established many years before they pay out or terminate. These trusts didn’t change with changes in beneficiary circumstances or with evolving legislation, but now they can. This article explores how. … [Read more...] about Changing “Irrevocable” Trusts Through Decanting
Modifying ‘Irrevocable’ Trusts: Judicial & Nonjudicial Methods
Irrevocable Trusts have long been an effective, albeit static, estate planning tool. These trusts didn’t always change with circumstance, but now they can. This article explores how. … [Read more...] about Modifying ‘Irrevocable’ Trusts: Judicial & Nonjudicial Methods
Misconceptions in Estate Planning: Costly Errors
You have to be discerning about the sources of information that you trust when it comes to estate planning. People that do not mean any harm sometimes pass along ideas that are not entirely true, and this can lead to mistakes that can have a negative impact. With this in mind, we are going to … [Read more...] about Misconceptions in Estate Planning: Costly Errors
Is Your Estate Plan Outdated?
One of the major estate planning mistakes that people make is the failure to recognize the fact that this is an ongoing process. When you execute your initial estate plan, you are working with circumstances that are inevitably going to change if you act when you are relatively young. You should … [Read more...] about Is Your Estate Plan Outdated?
Don’t Overlook Incapacity Planning
A lot of people view estate planning as a strictly financial endeavor. Yes, you have to state your final wishes in writing, but you should also consider the eventualities that may enter the picture toward the end of your life. Longevity It is important to put longevity into perspective when you … [Read more...] about Don’t Overlook Incapacity Planning
