What is the Biggest Legal Loophole in the Tax Law Today

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Even for those with modest estates, one available planning option which is growing in popularity is the “Family Legacy Trust.” This arrangement is also known as the “Generation Skipping Trust,” or the “Dynasty Trust,” because it is intended to provide a source of funds for your family for generations to come. When properly prepared, the Family Legacy Trust serves as a barrier to insulate assets from the reach of outsiders. In this manner, the trust property will be protected from the claims of creditors, such as a former spouse in the event of divorce or other potential liability arising from lawsuits. Read more...

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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