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The Delaware Incomplete Non-Grantor Trust (DING, aka NING-for trusts settled in Nevada) is a sophisticated irrevocable trust that functions as follows: Grantor, an Oregon resident, has a substantial amount of stock with a low cost basis. Grantor settles a non-grantor...
This is a follow-up entry to the entry titled "A Primer on Gift and Estate Tax in Oregon." Even though the gift tax rate and estate tax rate are the same and have the same exemption amounts, money can be saved by gifting instead of letting the assets pass...
I was recently talking with a CPA in my network, and he told me how he attended a continuing education seminar on how "retirement plans are the best form of asset protection available." Although retirement plans offer some asset protection, and should be a part of...
The most common type of business transition for small business uses a buy-sell agreement and irrevocable life insurance trusts. Below is a diagram explaining the fundamentals.
Every trust has a grantor. So why are some trusts called "grantor trusts" and others called "non-grantor trusts"? The phrase "grantor trust" is actually referring to an IRS term that means the grantor of the trust is treated as the owner of trust property for income...
The phrase "Revocable Living Trust" has three parts that need to be discussed. First, a "Trust" in this context is an arrangement between three parties: the Grantor (sometimes called "Settlor" or "Trustor"), the Trustee, and the beneficiary. The Trustee is the legal...
An Oregon resident must worry about federal gift tax, federal estate tax, and Oregon estate tax. Federal estate tax is assessed at 40% of a person's taxable estate over $5.34 (2014 number-adjusts for inflation). So if an Oregon resident has a $10 million taxable...
As you may be aware, if your child inherits your IRA, he can "stretch" out the withdrawals in order to continue the deferred tax growth for a number of years. Naming your child a beneficiary of your IRA can be a problem if: (1) your child is a minor and you don't want...
This is a follow-up entry to the entry titled "A Primer on Gift and Estate Tax in Oregon." Even though the gift tax rate and estate tax rate are the same and have the same exemption amounts, money can be saved by gifting instead of letting the assets pass...
A Gun Trust is a trust specifically established to purchase, own, and convey firearms at the grantor's death. Gun Trusts are usually established to purchase "Title II firearms", which include, but are not limited to machine guns, short-barreled rifles, and silencers....
