Lifetime Spousal Trusts: To Have and To Hold Your Marital Assets

Frequently, married couples have the desire to bequeath all of their assets to each other upon their passing. However, there may be reasons for spouses to instead transfer assets to each other during their lifetimes. Specifically, they may want to consider transferring assets to each other through the use of trusts. There are a number...

Recent Private Letter Ruling Increases Benefits of IRA Trusts

In one of our previous blog posts, we discussed the growth of trusts that are utilized specifically to be named as beneficiaries of retirement accounts, and the various benefits associated with said trusts (“IRA Trusts”). One major negative of IRA Trusts however, is that, in the event an IRA Trust is used as a beneficiary...

De-Can’t I Change That Trust?

Decanting is a term that is used most commonly by wine sommeliers, but in the world of trusts and estates, it is also an important estate planning tool. Wine lovers may decant their wine by pouring the wine from one bottle or container into another, in order to remove unwanted sediment in the wine. For...

The Use of IRA Trusts to Plan for your Family’s Retirement

For many people, their retirement account is their largest asset. As a result, these accounts are being used less as a fund for one’s retirement, and more as a way to pass wealth to future generations. Typically, the account owner will name his spouse or his children as the beneficiaries so that his family can...

Revocable vs. Irrevocable Trusts: What’s the Difference?

Various types of trusts are used in the Estate Planning process, for many different reasons. This is due to the fact that trusts are extremely useful tools for managing property, while also providing a high level of flexibility. A trust can be created during a person’s lifetime, or upon death. Trusts used for Estate Planning...