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A Gift From Above: Estate Planning On a Higher PlaneA Gift From Above: Estate Planning On a Higher Plane
Generally, most clients want the same thing: control, use and enjoyment of their assets until death and protection of their assets from potential claimants. They also want these same benefits for their family members after they themselves pass away. Ideally, these goals can be met in a tax efficient manner. It's a fundamental fact of estate planning that to best accomplish these goals, the assets
Jerome M. Hesch, Lawrence Brody, Richard A. Oshins & Susan P. Rounds
Generally, most clients want the same thing: control, use and enjoyment of their assets until death and protection of their assets from potential claimants. They also want these same benefits for their family members after they themselves pass away. Ideally, these goals can be met in a tax efficient manner.
It's a fundamental fact of estate planning that to best accomplish these goals, the assets must be passed on in a generation-skipping trust. The trust can be designed to achieve the desired benefits, generation after generation, even though the trust beneficiaries are given “in trust benefits and controls.” This designation makes assets inherited in trust much more val...
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