Due in part to the expenses and complications of probate, wealth has increasingly flowed from one generation to the next through many available non-probate transfers. A non-probate transfer allows an asset to be passed from a decedent to designated persons without ever being part of the probate estate. There are multiple means to pass assets […]
Trusts
There are many different types of trusts that serve different purposes and have different benefits. Trust law involves the transfer of property rights away from the trustor for either its own benefit (tax benefits), or the benefit of a third party.
Trusts: Redirecting Income to Meet Your Financial Objectives
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There are many different types of trusts that serve different purposes and have different benefits. Some change the timing of when income is taxable, which can have tax benefits. Others shift income to another tax payer, which likewise can lighten a tax burden on some income. Some trusts are living trusts that become active while […]