Knowledge Base
Tax strategy, healthcare before Medicare, the post-FIRE identity shift, and the financial decisions that get more complicated after you stop earning.
1054 articles — page 74 of 88
The short answer is: sometimes, but rarely without consequences. Whether irrevocable trust trustees can include the grantor depends on state law, trust type, and how the IRS reads your retained powers. For estates in the $5M to $15M range, getting this wrong doesn't just cost you control. It can cos
For anyone with a net worth above $5 million, trusts are not optional accessories to an estate plan. They are the architecture. The right structure determines whether your estate pays 40% federal tax on assets above the exemption, whether a creditor can reach your business interests, and whether you
Knowing how to amend a living trust is not a procedural nicety. For anyone with a taxable estate approaching or exceeding $7 million, it is an urgent financial decision with a hard deadline. The Tax Cuts and Jobs Act exemption sunsets after December 31, 2025, and trusts drafted before 2018 may be st
Trust fund monthly payments are predictable income streams, but the structure behind them determines whether you keep 63 cents on the dollar or closer to 85. For beneficiaries of $5M+ trusts, the difference between a well-drafted distribution framework and a generic one isn't comfort, it's hundreds
Portuguese forced heirship rules restrict your testamentary freedom to roughly one-third of your estate. If you own a Lisbon apartment, a Douro quinta, or a Portuguese brokerage account, Portuguese inheritance law governs how those assets pass to your heirs whether you like it or not. For high-net-w
Gifting appreciated shares to family members can reduce your estate tax exposure, shift capital gains to lower-bracket recipients, and transfer wealth outside your taxable estate. But the tax implications of gifting shares to family depend heavily on which vehicle you use, when you act, and what the
Trustees can make irrevocable trust withdrawals, but the authority to do so is narrower than most people assume. The trust document controls first, fiduciary duty controls second, and the tax consequences of getting either wrong fall squarely on the trustee personally. Here is what that means in pra
Trust records in California are almost entirely private. No central registry exists, no state agency records them, and a living trust does not become public record simply by existing. The one exception: when a trust holds real property, the deed transferring that property into the trust must be reco
S corp stock gifting to family members is one of the most effective estate planning moves available to business owners with concentrated private equity positions, but the IRS has built several traps into the rules that retail-level advice consistently ignores. The core tension: gifting transfers own
The short answer: yes, sometimes. Serving as grantor as trustee of an irrevocable trust is legally possible in specific structures and jurisdictions, but the arrangement carries real tax and asset protection risks that can quietly erase the trust's planning benefits. The details matter enormously, a
The short answer: yes, in most cases. An ILIT must file Form 1041 with the IRS if it has gross income of $600 or more in a tax year, or any taxable income at all. For most ILITs holding only a life insurance policy during the grantor's lifetime, that threshold is rarely crossed, making the annual fi
Pennsylvania's inheritance tax applies to every estate, regardless of size. Rates run from 0% to 15% depending on who receives the assets, not how much the estate is worth. For executors managing a $10M+ estate, following the PA inheritance tax instructions precisely determines whether you capture a