Dynasty Estate Planning
What is Preventive Law?
Just as many people avoid going to the doctor until there is a problem, people also avoid meeting with their attorney until something goes wrong. Similarly, as regular visits to the dentist can prevent traumatic dental experiences, regular appointments with your attorney can help you prepare for the road ahead and plan for worst case…
Read MoreWhat 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…
Read MoreRevenue Ruling 2023-2
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…
Read More500 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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