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A “Revocable Living Trust” is a trust established by a trust agreement that is revocable by the Grantor and created while the Grantor is living. (A “Grantor” is a person who establishes a trust.) Read more about Revocable Living Trusts here...
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Probate is a court supervised process that makes sure a decedent’s bills are paid appropriately, assets are inventoried and distributions are properly made. Read more about it here...
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There are many differences between revocable and irrevocable trusts. Read more for a summary of just some of those differences...
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A portability election is a useful tool that allows estates of married taxpayers to pass along (i.e. “port” or "transfer") the unused portion of a decedent’s estate tax exemption amount to a surviving spouse. Read more here...
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Congress enacted the Generation Skipping Transfer (“GST”) tax in 1976. Read more about it here...
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Specific rules apply when an estate or trust is a shareholder of an S-Corporation. Read more here...
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