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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Woman sues over fatal motorcycle crash
Madison County Record
... in the St. Clair County Circuit Court against Rita Sue Friedman, as trustee of the Joseph H. Lerner Non-Martital Trust, Linda T. Williams, as trustee of the Linda T. Williams Generation Skipping Trust, et al., alleging they violated the Illinois ...
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Sembler family trust suing over $5 million investment in sports ticket resales
TBO.com
According to the complaint filed with Hillsborough County Court in late June, the Sembler Provision Fund Generation Skipping Trust No. 4 invested just under $5 million through promissory notes for reselling basketball, football and soccer tickets. It ...
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