Living Trust. Download online state specific estate planning (revocable living trust) documents. Void Probate
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To better understand the issues relating to your legal situation or problem, our legal information and other law related facts may be of interest to you
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Generation-skipping trust A generation-skipping trust (also called a dynasty trust) allows you to transfer a substantial amount of money tax-free to beneficiaries who are at least two generations your junior -- typically your grandchildren. The generation-skipping exemption is increasing gradually from $1 million in 2003 to $3.5 million in 2009. You may specify that your children may receive income from the trust and even use its principal for almost anything that would benefit your grandkids, including health care, housing or tuition bills. Beware, however. If you leave more than the exemption amount, the bequest will be subject to a generation-skipping transfer tax. This tax is separate from estate taxes, and is designed to stop wealthy seniors from funneling all their money to their grandchildren.
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Return to all Living Trust legal information
Legal Articles about Living Trust
Living Trust Frequently Asked Questions
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Problems Solved by Estate Planning
A living trust can solve many of the problems encountered in estate planning. Some ...
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Try to Avoid Probate with Living Trust
First of all, what is probate? We've heard various things about probate and we pretty ...
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The AB Living Trust Saves Taxes
Some people must consider federal estate tax when planning their finances. Estate tax ...
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Trends and Issues for the 2015 Busy Season
Insurance News Net
Effective April 1, 2022 , New York conforms with the federal provisions related to alternate valuation, qualified domestic trust, and qualified terminable interest property elections. The New York State generation-skipping transfer tax no longer ...
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NUMBER OF THE WEEK: 6.5 percent
Mondaq News Alerts (registration)
"This bipartisan repatriation proposal will stimulate the economy by bringing back hundreds of billions of American dollars currently sitting offshore...and will provide much-needed revenue to the Highway Trust Fund," Boxer said. Some of Boxer's ...
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