DAPT laws vary significantly by state. Residency requirements vary from state to state, as does the required connection of the grantor with the DAPT state.
Author Archives: Skvarna Law
Lawyers create testamentary trusts in a will. They write this type of trust upon the individual’s death. Therefore, they do so to protect the money and property on behalf of a beneficiary.
A generation-skipping trusts allows you to distribute your money and property to your grandchildren, or even to later generations, without taxation, by using your lifetime exemption to offset any tax that could be due.
A trust (specifically, a Revocable Living Trust) (RLT) is a formal relationship. In it, the trust-maker names a trusted individual (trustee) to manage accounts and property.
Part 2 in a 2-Part Series Low Interest Rates & Estate Planning Last week, we began a two-part series about how to share your wealth through estate planning. To read part one in the series, click here. This week, we conclude by examining other options for sharing your wealth. We examine charitable gifts, including intrafamily loans.
Your attorney can design the trust to pay the grantor a stream of income at least annually and over a specific term of years. At the end of the specified term, payments end.
Often, family members “lawyer up” and settle in for a long, drawn-out court battle. In such cases, attorney fees often spiral into the tens and even hundreds of thousands of dollars.
Depending on the size of the estate and the nature of the accounts and property held by the estate, these expenses reduce the final amount available for heirs or beneficiaries.
Part 2 in a 2-Part Series Last week, we started a two-part series about how to prepare your estate documents prior to heading out for a summer vacation. Click here to read part one of this series. More documents to gather before heading out for a summer vacation:
(Part 1 of a 2-Part Series) After months of near confinement in our homes, most Americans are stir-crazy. As such, we are eager to travel to make vacation plans. As more states are open, take these precautions before your summer travels.