Category Archives: Trusts

Inheritance: Should You Accept It?

Attorney working with act of inheritance and testament. Tiny man standing near tombstone, document and gavel flat vector illustration. Legacy concept for banner, website design or landing web page

The news that you will be receiving an inheritance is often bittersweet. Sadly, it means that somebody close to you died. However, you might also have mixed emotions about your inheritance for reasons that have to do with the actual accounts or inherited property. 

Tax Planning: Meat Loaf’s Estate

Writing note showing Tax Planning. Business concept for analysis of financial situation or plan from a tax perspective White pc keyboard with note paper above the white background

Using a bypass trust is another way to avoid the estate tax. In this case, Meat Loaf could have created a trust to hold an amount equal to his unused individual lifetime exclusion amount ($12.06 million), with any excess passing to his wife either outright or through a marital trust, therefore bypassing estate tax liability.

Celebrity Estates: Meat Loaf

Meat Loaf Rocker Estate Plan

By the time he died, Meat Loaf had appeared in hundreds of TV shows, endearing himself to a younger generation with roles in Wayne’s World and Fight Club. He married twice, and had two children.