Rather than viewing trusts as a mechanism to protect beneficiaries from the dangers of wealth, what if trusts were viewed as vehicles to “ignite a fire” within the next generation?
Simply because the instrument governing your trust states that it is irrevocable and cannot be amended does not mean it cannot be modified to serve your family’s needs in a better fashion.
Irrevocable trusts are a great way to minimize estate taxes and keep more of your wealth in the family, but they require you to permanently give up ownership and control of the assets you place in
During this interview, attorney Jason Kohout shares the legal developments and highlights from his panel discussion on the regulatory, trust, tax, and estate planning update at the Family
In collaboration with a consortium of interested parties, including Holland & Knight attorneys, the Tennessee legislature has made significant strides toward securing and maintaining the state
Being asked to oversee a family trust is a big deal. It’s a huge responsibility, and one you may not feel prepared to accept. Even if you’ve participated in or been exposed to the world
Choosing a trustee is a major decision—one that may impact you and your family in many ways for generations to come. Essentially, when you establish a trust for the benefit of others, you are
Residents in 43 states pay state income tax, with the highest rate being 13.3%. When combined with the top federal marginal tax rate and the net investment income tax, residents subject to the
Beginning with the trustee fiduciary duties to the beneficiaries of a trust, attorney Abbey Magnuson of Foley & Lardner’s Estate & Trusts Practice Group discusses ways to mitigate
Non-U.S. families establishing succession planning structures rarely think about the U.S. generation-skipping transfer (GST) tax. Nevertheless, when a foreign trust becomes a U.S. domestic trust so