As with any election, there is the potential for significant impact on estate and gift taxes. Under the Tax Cuts and Jobs Act of 2017, the federal exemption from gift and estate tax rose to [...]

“Why would anyone want an irrevocable trust?” It’s a common question we get. “You can’t take back what you put in!? You can’t have absolute control!? You can’t own what’s in the trust!? Geesh!” [...]

The irrevocable life insurance trust (or “ILIT”), as its name suggests, is irrevocable. It cannot be rescinded, amended, or modified in any way by the “grantor” after its creation. Once the [...]

Would you like to make a large gift to a cause you believe in but need encouragement to make it happen? You don’t need a motivational pep talk to get you there; you just need the US Tax Code! [...]

Because we don’t like to talk or think about death, we find many people don’t understand what actually needs to happen after a death. Many of us think, “My estate and assets will go to my kids. [...]