A rabbi trust is a special type of grantor trust that is created by a company and provides a non-qualified employee benefit. Despite its name, it is not limited to use by rabbis. The name derives from the fact that the first known trust of this type was created by a...
Michael Oher, a former professional football player, and the main character depicted in the film The Blind Side, has been in the news regarding a conservatorship that was created when he was in high school. Oher states that he believed, and the story told in the movie...
The Tax Cut and Jobs Act of 2017 (“TCJA”) made meaningful changes to the tax code which is set to “sunset” at the end of 2025. Come Jan 1, 2026, the historically high estate and gift tax exemption, among other provisions, will disappear and revert to pre-TCJA levels....
Some people shy away from creating trusts because putting assets into a trust means losing some control over that property. However, there are various techniques that can allow grantors (the trust’s creator) to have more flexibility over assets held in the trust. One...
Irrevocable trusts are created with the intent that they cannot be altered, amended, or revoked. The benefit is that such trusts can be used to minimize estate taxes or protect assets for numerous purposes such as Medicaid planning or to provide creditor protection....
