What is a Trust and how do I know if I need one?

A Trust is simply a contract to control the disposition of properties. A person has a contract drafted to protect property or assets to be passed on to a loved one at some point in the future. Participants involved in a Trust are: Grantor- The person who creates the Trust Trustee- The executive that administers…

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Revenue Ruling 2023-2

Equity Strip

Revenue Ruling 2023-2 is Nothing New The IRS ruled in Revenue Ruling 2023-2 that assets in an irrevocable trust outside the taxable estate of the grantor, do NOT get a step up in cost basis when the grantor dies. Although this ruling has received some attention and disagreement in the media, it is nothing new…

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500 Year Plan

500 Year Plan

How many human institutions last 500 years or more?  How pretentious is it to presume that we can establish a Trust or a business enterprise without an expiration date, and which at least in theory could last indefinitely?  And yet, that is exactly what we seek to do.  We help our clients establish “Dynasty” Trusts…

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Equity Strip Exposed

Equity Strip

How To Strip Out Equity The so-called “equity strip” is sometimes promoted as an asset protect device.  It is most often used with real estate.  However, it can be used with nearly any asset.  While an equity strip can have significant asset protection benefits, it also has much less aggressive uses for simple retirement cash…

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