A popular estate planning tool that has long been used effectively may be facing new challenges under the ever shifting currents of tax law and politics. The family limited partnership (FLP) is an estate planning tool that allows families not only to transfer significant amounts of their wealth to succeeding generations while reducing estate, gift, […]
Americans have enjoyed historically high estate tax exemption rates for most of the last twenty years. Such high exemption amounts have kept many of them from needing to seek out more advanced estate planning strategies to avoid estate taxes, which have been as high as 60 percent during those same years. However, it is uncertain […]
Continuing education is a tradition that many families are proud to pass onto each successive generation. For grandparents who want to leave a legacy to their grandchildren, the gift of a 529 college savings plan is an option. A 529 plan account can not only help a grandchild with educational expenses, it can also help grandparents […]
The reasons you, as a trustmaker (in Texas referred to as a grantor), create a trust are certainly special and important to you, but your intent or purpose for creating a trust can also have significant legal ramifications. For this reason, it is often critical that a grantor express in writing a statement of intent, […]
