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 86 of 88
Community trust funds are public charitable entities that pool capital from multiple donors, manage it as a permanent or long-term endowment, and distribute grants to local nonprofits and initiatives. For high-net-worth donors, they function as a middle path between the control of a private foundati
The short answer: most irrevocable trusts cannot use a Social Security number and must obtain their own Employer Identification Number. The IRS requires non-grantor irrevocable trusts to file Form 1041 under a separate EIN, treating the trust as a distinct taxpaying entity. The exception is narrower
IRC §179(d)(4) says no, at least not directly. Trusts and estates are explicitly barred from claiming Section 179 deductions at the trust level. That is the threshold rule, and most articles stop there. The more useful answer is that the prohibition is entity-level, not absolute. Grantor trusts, bus
The slayer rule in inheritance law bars anyone who feloniously and intentionally kills a decedent from receiving any benefit from that death. No will, trust, beneficiary designation, or joint tenancy can override it. The rule operates across probate and non-probate assets alike, and its reach extend
Living trust execution after death in California follows a defined legal sequence, not a vague administrative process. For estates above $5 million, the stakes are concrete: a misstep on asset titling triggers probate, a missed Proposition 19 analysis can cost $40,000 per year in property taxes, and
When an irrevocable trust trustee dies, the trust itself does not die with them. The assets remain trust property, not part of the deceased trustee's estate. But without a functioning trustee, the trust enters a period of administrative paralysis that can freeze transactions, delay distributions, an
If you're managing a trust with meaningful assets, the software question isn't about convenience. It's about tax exposure, personal liability, and whether your recordkeeping infrastructure can actually support the decisions your estate attorney and CPA are making on your behalf.
If you own a business generating serious income, employee trust funds are not just a benefit line item. They are one of the most aggressive legal tax deferral mechanisms available to you. The right structure can shelter $300,000 or more from federal income tax annually, while simultaneously solving
A non-charitable trust holds assets for the benefit of private individuals rather than public causes. For anyone with a taxable estate above $7 million, the structure you choose, the jurisdiction you select, and the timing of your transfers will determine whether your heirs receive your wealth or th
The standard irrevocable trust abbreviation is simply IT, but that shorthand obscures a critical reality: "irrevocable trust" is a category, not a single structure. The ILIT, GRAT, SLAT, QPRT, and IDGT sitting in your estate plan are all irrevocable trusts with meaningfully different tax treatments,
The short answer: it depends on your state and your trust structure. Notarization is not universally required for trust validity, but skipping it can expose a multi-million dollar estate plan to challenges that a $20 notary fee would have prevented. For anyone holding significant assets across multi
Irrevocable trust settlement typically runs six months to two years for straightforward cases, and three to five years when litigation enters the picture. For estates above the current federal exemption threshold, the IRS audit window alone adds 12 to 18 months to that clock. If you are a trustee or