Laws Code and Statutes
Intentionally Defective Grantor Trust
What is an Intentionally Defective Grantor Trust? A Trust can be subject to multiple kinds of taxes, and can be taxed in different ways. To make sense of what an “Intentionally Defective Grantor Trust” is, we must consider two different kinds of taxes: income taxes and estate taxes. These two different taxes are imposed at…
Read MoreLooking Through the Corporate Veil
Looking Through the Corporate Veil Many of our clients have been complaining in recent years that banking has become more difficult. Opening a business bank account used to be a simple process. Now it is extremely difficult, and sometimes impossible. The politicians have enhanced the LLC and Corporation Disclosure Requirements. It is now necessary for…
Read MoreTrust Decant – Old Wine New Bottle
Trust Decant The term “decant” means to pour the contents of one container into another container. It is like pouring old wine into a new bottle. It has come to refer to the practice of forming a new updated trust, and transferring the assets from an old obsolete trust to the new trust as a…
Read MoreTENANTS IN COMMON: IS IT WORTH IT?
TENANTS IN COMMON Most people in real estate know that one way property can be owned is as Tenants in Common. Tenants in Common consists of two or more people who own a separate interest in real property. That separate interest can be transferred, assigned, or mortgaged to a third party. That is, unless the…
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