by Joel Roettger | Nov 12, 2018 | Estate Planning, Trusts
Termination of a trust is like dissolution of a business organization. In both cases, there is a winding up period before the entity legally ceases to exist. Usually, this means paying any outstanding trust obligations, liquidating assets, filing final income tax...
by Joel Roettger | Aug 21, 2018 | Estate Planning, Trusts
If you are considering converting an income-only trust to a unitrust, think again. As the name suggests, an income-only trust is one in which the current beneficiary has access to the net income, but not the principal, of the trust. Once a common feature of the trust...
by Joel Roettger | Jul 19, 2018 | Estate Planning, Tax, Trusts
Wife transfers property to a trust for the benefit of Husband. The trust is intentionally structured so as not to qualify for the gift tax marital deduction. Wife files a gift tax return in connection with the gift, and Husband consents to split the gift. Husband is...
by Joel Roettger | Apr 17, 2018 | Estate Planning, Tax, Trusts
$1 - $2,54910% $2,550 - $9,149$255 plus 24% of the excess over $2,550 $9,150 - $12,499$1,839 plus 35% of the excess over $9,150 > $12,500$3,011.50 plus 37% of the excess over $12,500 These numbers will be adjusted annually for inflation based on the chained consumer...
by Joel Roettger | Apr 12, 2018 | Asset Protection, Estate Planning, Trusts
Consider adding a testamentary limited power of appointment to make SLATs more effective. A spousal lifetime access trust, or SLAT, is a trust created by one spouse (grantor spouse) for the benefit of the other spouse (beneficiary spouse). The purpose of a SLAT is to...
by Joel Roettger | Mar 25, 2018 | Asset Protection, Estate Planning, Trusts
For reasons of privacy and asset protection, clients sometimes seek to conceal or obscure their ownership of real property. Tennessee law, however, does not make it easy to do so. One technique is to purchase real estate through an entity, such as a limited liability...
