Establish your trust in the right state, the First State. Changes in the federal tax laws have provided a renewed focus on state income taxes and strategies available to minimize these taxes. While personal trusts have been used most commonly as estate and gift tax planning vehicles, they now have increased importance as tools for
Implement tax-advantaged trust strategies post tax reform. Tax reform has created major changes and opportunities for high-net-worth taxpayers, particularly those who are real estate investors and developers. The creation of section 199A brings a new, advantageous deduction to those in the real estate business. From a strategic planning perspective, real estate investors, owners, and developers
Be sure your plan meets today’s goals and is flexible for future change. As with any change in tax legislation, the Tax Cuts and Jobs Act of 2017 gives rise to valuable planning opportunities. The new tax law serves as a good reminder to review your estate plan to be sure that it is consistent
