A TRUSTEE'S ROLE, RESPONSIBILITIES, AND AUTHORITY

A TRUSTEE’S ROLE, RESPONSIBILITIES, AND AUTHORITY

Gabriel Katzner - March 8, 2024 - Trust Administration

If you establish a revocable living trust, you will probably serve as your own trustee. However, you will need a successor trustee to manage your trust upon your death. A trustee is the person or firm you choose to manage and administer your trust according to your trust instructions and state law. A grantor gives […]

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spousal lifetime access trust

SPOUSAL LIFETIME ACCESS TRUST (SLAT): PRESERVING ASSETS FOR YOUR SPOUSE AND FAMILY

Gabriel Katzner - November 16, 2023 - Trust Administration

Ken, age 65, a widower, has recently married Kellie, age 49. Ken has two adult children who are both very active in their family business. Kelly has an adult daughter, who is married with two children and currently lives in Europe. Ken’s estate is valued at approximately $35 million. He wants to ensure that Kellie […]

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QUALIFIED PERSONAL RESIDENCE TRUST (QPRT): PROTECTING YOUR PRIMARY RESIDENCE

QUALIFIED PERSONAL RESIDENCE TRUST (QPRT): PROTECTING YOUR PRIMARY RESIDENCE

Gabriel Katzner - September 14, 2023 - Trust Administration

Jackie, a 70-year-old widow, has an $18 million estate. She owns a home valued at $3 million. She has two married daughters and 12 grandchildren. Jackie wants to reduce her estate taxes and pass her home to her daughters as joint owners. She would like to live in the home until she dies. Qualified personal […]

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Will or trust? estate planning lawyer

DO YOU NEED A WILL, A TRUST, OR BOTH?

Gabriel Katzner - August 29, 2023 - Trust Administration

A comprehensive estate plan provides peace of mind that your assets will be distributed to your loved ones upon your death exactly as you intend. A last will and testament and a trust are two estate planning tools that serve slightly different purposes, complement each other well, and are frequently part of an estate plan. […]

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estate planning lawyer

THE HIDDEN STRATEGIES: UNVEILING THE SECRETS OF TRUST PLANNING

Gabriel Katzner - August 2, 2023 - Trust Administration

Planning how you will pass your estate to your loved ones can be anxiety provoking. You may have a Last Will and Testament and know you want to establish a trust but feel overwhelmed by the options. A constantly changing global economy, shifting tax codes, and changes in your family structure, needs, and goals can […]

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Multigenerational family gathered together from great grand parents to great grand sons posing for the picture in casual multicolored clothing

DYNASTY TRUSTS: MULTIGENERATIONAL ESTATE PLANNING

Gabriel Katzner - June 27, 2023 - Trust Administration

A dynasty trust (also known as a perpetual trust) is an irrevocable trust that can span more than two generations. In fact, it can theoretically last forever or as long as the trust money and property remain. As an irrevocable trust, dynasty trusts offer tax minimization and asset protection. Because the rules of an irrevocable […]

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Husband putting a gifted beautiful pearl necklace to his wife

HOW A SPOUSAL LIFETIME ACCESS TRUST WORKS

Gabriel Katzner - June 7, 2023 - Estate Planning

A spousal lifetime access trust (SLAT) is a trust created by one spouse (trustmaker spouse) for the benefit of the other (beneficiary spouse).   This estate planning tool can be used to retain as much control over your property and assets as possible while not paying any more taxes than you have to.   Spousal […]

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falling wooden blocks stopped by a hand

CAN SPENDTHRIFT TRUST PROTECT IRRESPONSIBLE BENEFICIARY?

Gabriel Katzner - May 8, 2023 - Estate Planning

Suppose you have spent your whole life building your wealth. You wanted to provide for your loved ones long-term, well after you were gone. But what if one of your children is a little irresponsible? Imagine a situation where one of your children has access to their inheritance and blows the first distribution in no […]

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Mand with a blind in his eyes using a lap top

BLIND TRUSTS: TYPES AND PURPOSES

Gabriel Katzner - April 24, 2023 - Trust Administration

Typically, a trustmaker establishes a trust to benefit their loved ones, a charitable organization, or some other third party. The money and property in the trust are distributed upon the trustmaker’s death according to the trust instructions. In some cases, a trustmaker, especially a public figure who values privacy, will want to establish a trust […]

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