So you read online somewhere about some guy named Anderson or Lawrence and how they went to jail for civil contempt because they settled an offshore trust. Scared? Don't be. Anderson and Lawrence (as well as every other case) are very fact-specific cases. Lets discuss...
To understand what a will is, you must first understand what Probate is. Probate is a court process where the court names an executor to gather property of the decedent, pay any creditors of the decedent out of that property, and ultimately distributes the property to...
In simple terms, an Irrevocable Life Insurance Trust (ILIT) is a irrevocable trust that holds a life insurance policy, generally on the grantor's life. The policy can be either term or permanent. Generally, the grantor will make cash gifts to the ILIT, and the trustee...
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...
As technology advances rapidly, people's digital assets become more and more important. Paying bills and taxes, storing important documents as well as media files, communicating with friends and loved ones are some of the things that people do online. Contact...
The Spousal Lifetime Access Trust (SLAT) is an irrevocable trust that holds a life insurance policy on the grantor's life. The SLAT has two tiers of beneficiaries. The initial beneficiary is the grantor's spouse; the secondary beneficiary is the grantor's child[ren]...
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...
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....
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...
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...
