There are useful tools available to advisors and investors when it comes to estate planning. One of the tools that stands out is the irrevocable life insurance trust (ILIT). This is a form of ...

While both types of trusts have similar benefits like avoiding probate and reducing tax burdens, these trusts have nuances that must be seriously considered, as these can impact investors’ financial ...

Estate planning is an integral part of financial planning for high-net-worth clients, and a critical component involves the use of trusts. The decision whether to choose a revocable or irrevocable ...

In Central New York, families planning for the future are increasingly turning to irrevocable trusts to secure their ...

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A trust is a fiduciary arrangement that allows a third party -- the trustee -- to hold assets on behalf of beneficiaries, and lays out how and when those assets are to be distributed. They can be ...

A new IRS rule change affecting irrevocable trusts could increase the taxes your children pay on inherited assets by altering ...

As its name implies, an irrevocable trust cannot be revoked by the person who establishes the trust. Typically, an irrevocable trust also cannot be changed by a trustee or beneficiary. The irrevocable ...

Irrevocable trusts are often viewed as rigid, permanent components of an estate plan designed to preserve wealth, minimize taxes, and protect assets. However, as family circumstances evolve, laws ...

Revocable trusts offer flexibility but less protections. Irrevocable trusts limit your control but provide more protections. Work with an expert to help you decide which is best for you. Which type of ...