A Creative Way to Craft Your Estate Planning Legacy
Takeaways Estate planning isn’t just for the ultra-rich; trusts are valuable tools for anyone looking to structure wealth transfer, protect assets, and minimize conflict, regardless of the inheritance size. Proactive communication is key. Families should discuss...
What Is the Generation-Skipping Transfer Tax?
Takeaways The generation-skipping transfer (GST) tax applies primarily to very large estates that transfer wealth to grandchildren (or unrelated individuals 37.5+ years younger), ensuring at least one layer of transfer tax is paid. The new One Big Beautiful Bill Act...
When to Fire a Trustee
Takeaways A trustee is a crucial position with significant responsibilities, and while they are chosen for their trustworthiness, they can be removed if they fail to uphold their duties. The authority to remove them may rest with the creator of the trust, the...