Trust Administration

An Inheritor’s Trust is a trust established for the specific purpose of receiving an inheritance in a manner that is protected from your creditors and excluded from your estate for federal estate tax purposes. The laws of nearly every state, including ours, prohibit so-called ‘self-settled trusts’ – an irrevocable trust you establish yourself for your benefit, yet which purports to protect the trust assets from your creditors. Therefore, once you receive an inheritance, you cannot asset protect the inheritance yourself. However, if you are expecting an inheritance – for example, from a parent or grandparent – and that person is unable or unwilling to set up your inheritance in an asset-protected trust, you can protect these assets yourself by creating an Inheritor’s Trust to be the recipient of the inheritance. An Inheritor’s Trust legally protects the inherited assets from creditors and divorce yet allows you to access them as necessary. This trust also removes the assets from your estates so that these assets will not be subject to federal estate tax upon your death. You can even have the ability to appoint these assets at your death to a trust that will provide similar protections to your children and grandchildren, yet be exempt from federal estate and generation skipping transfer taxes for generations.

Revocable Living Trust

REVOCABLE LIVING TRUST based estate plan provides instructions that will allow you to:

• Control your property while you are alive

• Take care of you and your loved ones in the event of disability

• Pass your property to your heirs when and how you want while maintaining privacy

• Ensure that you and your spouse have sufficient assets to maintain your standard of living now and in retirement.

• Maintain maximum control and flexibility during your lifetime.

• Provide for you in the event you become disabled.

• Simplify administration as much as possible upon your death or disability (avoiding probate & guardianship).

• Avoid having your private matters being made public unnecessarily.

• Ensure that the efforts you desire are used to save your life.

• Have your property continue to benefit the survivor after one of you dies.

• If married, protect your assets so that they cannot be lost as a result of remarriage after the death of one of you.

• Ensure that the persons you select in fact become the guardians of your minor children.

• Protect your children’s or grandchildren’s inheritance from mismanagement.

• Structure your children’s or grandchildren’s inheritance in such a way that it installs values and virtues.

• Educate your children and grandchildren.

• Reduce the risk of litigation from heirs who receive less than they think they are entitled to.

• Minimize income taxes to the extent possible.

• Avoid or minimize capital gain tax on the sale of assets.

• Eliminate as much estate tax as possible.