Potential Legal Implications of the Promissory Note In the context of a trust, a power of appointment is a legally binding provision contained in a trust which gives a surviving spouse or other beneficiary the authority to change or re-direct the trust’s property in a way that may be different from the disposition otherwise provided […]

Revocable Trust Funding A revocable trust must be properly funded by the grantor or settlor during their lifetime, especially if the primary goal of forming the trust is to avoid probate. This article provides a summary of assets that can and cannot be transferred to a revocable trust, as well as a summary of potential […]

Proposed Changes to Estate Tax Recent information regarding the proposed tax changes by the Biden Administration includes a proposal to reduce the federal estate and GST tax exemption from $11,700,000 per individual to the 2009 level of $3,500,000 per individual.  There is even a proposal to reduce the federal gift tax exemption to $1,000,000 per […]