Law Offices of Maria V. Primushko

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Maria V. Primushko July 8, 2019

Why Entrepreneurs Need an Estate Plan

The last couple of articles explained how important it is for families to have some type of Estate Planning document in place. Many people don’t know that the rights to a business belong in the owner’s trust. Not having these important documents could cause unfortunate complications especially if the business has multiple owners. There are three main matters to consider as a business owner. The remaining spouse’s role with the company  to be determined if any at all.  Deciding on a buy/sell agreement may ensure that the remaining spouse avoids many complications. Speaking to a professional and creating a plan would guarantee protection of assets. Please read on to learn more…

Why entrepreneurs need an estate plan to protect spouses, businesses

 

Filed Under: Uncategorized

Maria V. Primushko June 4, 2019

What is a GST Trust?

A Generation-Skipping or “GST” trust can be a good way to keep assets out of the taxable estate of a beneficiary and yet still allow them to be used for the beneficiary’s benefit during life. Having this type of trust would essentially help one avoid paying estate taxation upon the death of that beneficiary.  Read on to learn more about this type of trust and whether it might make sense for you.

What is a GST Trust?

Filed Under: Estate Planning, Legal Education Tagged With: generation-skipping, GST, state estate tax, trust

Maria V. Primushko May 29, 2019

Modifying an Irrevocable Trust

People often believe that trusts are unchangeable documents written in stone. In fact, this is one of the big misunderstandings regarding Estate Planning. The only one way to change a trust is by going to court. The process isn’t as difficult as one may think. Irrevocable trusts often can be modified under the Uniform Trust Code or a state law decanting. Read on to find out more details on what it takes to alter a trust.

Modifying an Irrevocable Trust

Filed Under: Estate Planning, Legal Education Tagged With: decanting, modification, Uniform Trust Code

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Law Offices of Maria V. Primushko

Law Offices of Maria V. Primushko

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