Everything you need to know to protect your hard-earned assets
This one-of-a-kind book covers 30 different types of trusts. It shows how to set up a trust to manage assets in the event of disability or death, avoid probate, secure assets from Medicaid and creditors, minimize or eliminate estate and other transfer taxes, financially protect loved ones, and more...all within in the confines of the law.
Includes coverage of the new "Disclaimer Credit Shelter Trust", as well as expanded information on GPRTS, GRATS, and GRUTS
MARTIN M. SHENKMAN, CAP, MBA, JD, (Teaneck, New Jersey) is an attorney specializing in estate planning and personal finance. He is also the author of The Estate Planning Guide and Real Estate After Tax Reform.
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Myth: Trusts are just for the very wealthy. Fact: Trusts are for anyone who wants to maximize his or her finances. This newly revised guide offers step-by-step instructions on how to select from among 50 trusts to best suit your needs, be it real estate, life insurance or stock trusts, set up a trust for a spouse, grandchild or non-marital partner and identify the tax risks and benefits of trusts. New to this edition: expanded information on QPRTs, GRAT, GRUT, new information on community property law new trusts such as: QPRT, GST, Inter-Vivos Credit Shelter Trust and Inter-Vivos QTIP Trust.From the Back Cover:
As one of the most powerful and flexible financial planning tools available, trusts can help you achieve several important goals, from minimizing estate taxes to avoiding probate and managing assets in the event of death or disability. This thoroughly updated and expanded edition of The Complete Book of Trusts offers a comprehensive overview that includes essential details on how you can best use trusts to meet the goals of your particular choice.
Covering 50 different types of trusts --including charitable remainder, credit shelter, and revocable living --this complete reference provides the guidance you need to determine which are the right trusts for you. Then, this indispensable resource takes you step by step through the entire process of setting up, managing, and terminating trusts. Along with an easy-to-understand introduction to trust basics, including provisions, trustee designations, and grantor's rights, here's where you'll find: Important details on the new Disclaimer Credit Shelter Trust Expanded coverage of Qualified Personal Residence Trusts (QPRTs), Grantor Retained Annuity Trusts (GRATs), Grantor Retained UniTrusts (GRUTs) Vital information on the tax consequences of trusts Clear descriptions of trusts for specific types of assets And much more!
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