16th Nov 2013

Gifting has become very popular in the past 3 years as an estate planning tool.  The panic leading up to the “fiscal cliff” caused by the uncertainty over Federal tax policy, in combination with generous gift rules in 2011 & … more

4th Jun 2013

A basic overview of the Grantor Retained Annuity Trust, commonly known as a GRAT. Dwight Edward Tompkins,Trust and Estates Lawyer, Orange County, California.

2nd Jun 2013

This video is a good overview of the Charitable Remainder Trust, which is a type of irrevocable living trust, where you can obtain certain tax advantages, reduce the size of your taxable estate, obtain a stream of income, and help … more

15th May 2013

The trustee of a special needs trust has a complex job, which requires the trustee to understand the law and rules of government benefits, as well having the duty to invest funds appropriately.  Add the taxation requirements to prepare and … more

2nd Dec 2012

No.  As the creator of the trust, you have 2 powers that give you ultimate control over the Living Trust:  The power to amend the trust, and the power to revoke the trust.  Also, during your lifetime, as long you … more

The Truth About Revocable Trusts and Taxes

By : | Category : Estate Taxes, Irrevocable Trusts, living trust, taxes | Comments Off on The Truth About Revocable Trusts and Taxes

21st Nov 2012

Many people prefer to create a living trust since there are far less regulations with it and they do not go have through probate. Another reason, or rather misconception is that the taxes are less on a trust than the … more