Stites on Estates

Tag Archives: trusts

Designing Trusts for a Surviving Spouse’s Remarriage

Posted in Blended Families, Estate Planning, Life Cycle Estate and Financial Planning, Trust Administration
In the 90s, when the Internet was new and Bill Clinton still had more tomorrows than yesterdays, the estate tax exemption was $600,000, an amount even Thomas Piketty might think was rather low. In that sort of environment, credit shelter trust planning for married couples felt almost mandatory. We live in a very different world today.… Continue Reading

Designing Incentive Trusts: Adam Smith and The Wealth of Beneficiaries

Posted in Estate Planning, Life Cycle Estate and Financial Planning, Trust Administration
Certainly one of Adam Smith’s core insights in The Wealth of Nations was that incentives matter. I believe examples are everywhere about how Smith was correct – ranging from California water shortages and student loan debt, to tax policy and white collar crime. If incentives matter in these areas, shouldn’t they matter in designing trusts that maximize successful outcomes for… Continue Reading

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