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.
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.
Estate Planning Myths That Refuse to Die
What is stopping you from planning your future? One big misunderstandings is that creating a trust is only a way to distribute your assets. A trust will also create a peace of mind for you and your loved ones. It will give you the power to decide how to distribute your stuff in addition to who will be receiving it. More importantly, making this plan will inspire you to create a legacy and fulfill it. This informative article lists common myths about Estate Planning then debunks each one of them with important and accurate information.