Transcription of F. Trust Primer
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F. Trust Primer
F. Trust Primer by Elise Lin, Ron Shoemaker and Debra Kawecki Introduction The Trust instrument can be a pretty powerful piece of paper. The Trust form has always been considered as one of the foremost developments in the common law because of its flexibility. This flexibility allows the Trust instrument to serve a number of tax planning purposes. With a little planning, a Trust can create a current charitable tax deduction, avoid capital gains tax on the sale of appreciated assets, and significantly lower estate tax. For this reason, trusts are a common estate planning tool. The Code recognizes this and provides several provisions designed specifically for estate planning. The Code frequently permits trusts with charitable interests to achieve legitimate estate planning goals. However, planners with a variety of tax objectives have used trusts to generate tax-free savings in conjunction with compensation arrangements, pension planning, and education savings.
Mar 02, 2001 · Revocable trusts also called living trusts, are one of the more frequently misunderstood trust concepts. They are used primarily as a will substitute. Assets in trust avoid the cost, time, expense, and publicity of probate. Because a revocable trust may be a will substitute, it may provide for direct gifts to
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