Stites on Estates

Tag Archives: decanting

Design Factors for Your Family’s Trust

Posted in Asset Protection, Estate Planning, Life Cycle Estate and Financial Planning, Trust Administration
These are interesting years in estate planning for families in the Upper Middle and Lower Upper Classes. As a high estate tax exemption has reduced the tax-driven imperatives for using trusts to hold inheritances, non-tax applications of trusts come to the fore. As non-tax issues in trust design assume greater relative importance, what factors should… Continue Reading

Adapt an Irrevocable Trust to a New Family Situation With Decanting

Posted in Asset Protection, Estate Planning, Trust Administration
It’s not uncommon for an old irrevocable trust to no longer fit a family’s circumstances, for the simple reason that Yogi Berra was right when he noted that “It’s hard to make predictions, especially about the future.” Trusts provide advantages, including protection from creditors, divorce, or spendthrift behavior. To obtain these advantages, trusts place restrictions… Continue Reading