When attorneys draft trust documents, it's important to include maximum flexibility mechanisms to better respond to future tax, societal and beneficiary changes. Despite our clients' and our belief in crystal ball prognosis, these situations really are unforeseeable. The current instability of the transfer tax system (gift, estate and generation-skipping transfer (GST) taxes) has wreaked havoc on traditional estate-planning practices. In the past, estate-planning documents could be ...

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