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 76 of 88
A renunciation of inheritance form is the mechanism that executes a legal disclaimer, but the tax consequences hinge entirely on whether that disclaimer qualifies under IRC Section 2518. Get it right and the IRS treats the assets as if you never received them. Get it wrong and you've made a taxable
If you're searching for a way to create an irrevocable trust online in a few clicks, the honest answer is: you can't, not properly. Online platforms can generate template documents, but irrevocable trusts require attorney-drafted language to handle grantor trust elections, Crummey withdrawal rights,
Oil and gas royalty trusts are passive, finite-life vehicles that collect royalty income from producing properties and distribute virtually all of it to unitholders. They do not drill, explore, or reinvest capital. That structure creates genuinely attractive after-tax yields for high-bracket investo
International trusts remain one of the most misunderstood structures in high-net-worth planning. The core concept is straightforward: a settlor transfers assets to a trustee in a foreign jurisdiction, who holds and manages those assets for named beneficiaries under the laws of that jurisdiction. Wha
Washington residents with estates above $2.193 million face a state estate tax that most national planning frameworks ignore entirely. Layer on the federal exemption sunset scheduled for December 31, 2025, and the community property rules that can invalidate a trust funded incorrectly, and irrevocab
A california quitclaim deed to living trust transfer is one of the most common estate planning moves for property owners in the state, and also one of the most misunderstood. Done correctly, it keeps your real estate out of probate, preserves your Prop 13 base year value, and passes title to heirs w
The irrevocable trust 5-year rule is a Medicaid lookback provision, not an estate planning deadline. Federal law under 42 U.S.C. § 1396p requires Medicaid to review asset transfers made within 60 months of an application for long-term care benefits. Transfers into an irrevocable trust during that wi
The unit trust vs mutual fund distinction matters more at $5M+ than it does for retail investors, and not for the reasons most articles cover. The structural differences between these two vehicles create meaningfully different outcomes across tax efficiency, estate planning, institutional access, an
An irrevocable trust can own an annuity, but the structure of that trust determines whether the annuity retains its tax-deferred status or becomes a fully taxable contract. For anyone managing a $5M+ estate, that distinction is worth understanding before you move a single dollar.
The short answer: immediately after death, and certainly before you file the first Form 1041. Obtaining an EIN for a revocable trust after the death of the grantor is not optional paperwork. The IRS requires it. Under IRC §§ 671–679, a revocable trust loses its grantor trust status the moment the gr
The inheritance papers required to settle a $5M+ estate go well beyond a signed will. You are looking at a coordinated stack of legal instruments: the will or trust agreement, letters testamentary, court filings, tax returns (Forms 706 and 1041), beneficiary designation records, and asset-specific o
Yes, beneficiary contributions to irrevocable trusts are legally possible, but the tax and structural consequences are serious enough that most attorneys treat this as a last resort rather than a default move. The 2025 estate tax exemption sunset makes the timing of any such contribution more conseq