There are many differents types of trusts for different purposes such as:
- Probate Avoidance (most commonly a revocable living trust)
- Estate and Gift Tax Planning (most commonly irrevocable trusts)
- Asset Protection Planning (most commonly irrevocable trusts)
- Special Needs Planning (can be established by will - testamentary or can be self-funded or funded by third parties)
- Planning for minors that cannot manage funds and need a Trustee to manage
- Divorce protection - keeping assets out of the marital estate
- Re-marriage protection
- avoiding heirs being disinherited by mistake
Estate tax planning:
We can assist with trust and estate tax and planning options.
Taxation affects structuring of wills, trusts, including family trusts, and specialized asset protection.
Trusts and estate planning for clients includes gifting techniques, income, transfer, and estate taxation.
- Taxation of trust income, expenses and distributions.