Tax Planning Through the Use of Trusts
Pod Cast Date: February 13, 2019
Episode Title: Tax Planning Through the Use of Trusts
Key Take Aways You Can Learn From This Episode:
- Why not a lot of people with taxable estates anymore?
- Why do you need tax planning if estate taxes will affect so few?
- How can an Irrevocable Trust
- protect your home from governmental agencies?
- retain your personal residence tax incentives?
- allow step-up basis opportunity at time of death?
- How can an IRA Beneficiary Trust
- ensure beneficiaries remain as intended after death?
- limit depletion of IRA balance to pay the income tax exposure?
- allow balance to compound interest during the life of the beneficiary?
- How can a Revocable Trust allow married people who have low basis investments that have greatly appreciated have a double step-up in basis?
As of August 2019, licensed elder law attorney, Victoria Collier, is certified in business exit and succession planning. This type of planning allows business owners to protect everything they’ve worked for by strategically planning the transition of their business.