Estate Planning

A Grantor Retained Annuity Trust (GRAT) is a tool used by people who want to reduce estate and gift taxes. There are also Rolling GRATs and Zero'd Out GRATs. A GRAT holds high growth assets that are appreciating in value faster than the Section 7520 rate.

An IRA (individual retirement account) trust is a special type of trust that can be designated to receive distributions from an IRA to gain asset protections such as spendthrift protection, creditor protection and divorce protection, special needs trust protection and achieve "dead hand control".

An Irrevocable Life Insurance Trust (ILIT) is a powerful asset protection tool used in estate planning to help manage and distribute assets efficiently, minimize estate taxes, and provide liquidity to an estate.

Passing on your business to the next generation by creating management (how your business will be managed if you are gone) and business succession plans (how your business will be owned) will help you get the most value for your business and hopefully, avoid hurting family and business partners. (Read more...)

A dynasty trust is a long-term, irrevocable trust designed to pass on and manage wealth for multiple generations. It allows individuals to transfer assets, such as money, property, investments, or closely-held business interests into a trust for beneficiaries (typically family members) while minimizing estate tax, gift and generation-skipping transfer (GST) taxes and protecting the assets from creditors and potential squandering.

A self-canceling installment note (SCIN) is a promissory note that contains a provision under which the buyer’s obligation to pay automatically ceases in the event that the seller dies before the note’s maturity date. SCINs are typically used in family business transfer situations.

A Minor’s Trust is one solution! This trust allows you to gift assets for the benefit of a minor child while ensuring that a designated trustee correctly handles the trust until the child is 21.

A special needs trust (SNT) is a trust designed to assist a disabled child or beneficiary so that they can continue to receive government benefits (Medicaid or Supplemental Security Income (SSI) or other state provided benefits) and still receive funds from the trust.