Estate Planning

Difference Between Revocable and Irrevocable Trusts

What is the Difference Between Revocable and Irrevocable Trusts?

If you’re looking into estate planning, understanding the difference between revocable and irrevocable trusts is vital to your family’s future. If you select the option that doesn’t align with your goals, you could end up with considerable tax and legal penalties. In most cases, the revocable living trust will become irrevocable if the trustmaker dies, …

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How To Use Trust And Gifting To Reduce Your Income Taxes

For years people have looked for creative ways to avoid paying heavy income and estate taxes. The federal tax overhaul law recently signed by President Trump left many people confused about its implications on their assets. Wealthy families actually benefit the most. Overall, the tax overhaul has made it easier to set up trusts and …

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How to Use a Dynasty Trust To Grow Wealth and Benefit Future Generations

If you own a large estate, consider the best estate plans for you and your heirs. You don’t want to burden your children with a heavy estate tax once you pass away. Estate lawyers recommend setting up trusts to protect your assets. The dynasty trust is more intriguing than traditional trusts because theoretically they can …

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What are Pet Trusts and How they Protect Your Pets

About Pets Trusts: What They Are and How they Protect Your Pets

Did you know that estate planning can protect a lot more than your human family? Your four-legged furry family members can also be covered and cared for specifically by your estate. Many people have specific plans and wishes for their pets after they pass away, from making sure they get adequate veterinary care, to ensuring …

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