Reprinted from Trusts & Estates Magazine
by Louis S. Harrison, Kim Kamin & Martin Shenkman
Provides many creative ideas to make existing or new trusts and estate plans more flexible. Given the seemingly constant changes in economic and other circumstances, and the periodic dramatic changes in the tax law, flexibility is key. Any trust you have (or will that create trusts) that is more than a couple years old will likely not incorporate several of these ideas. For example, a single fund QTIP trust had not been used commonly in the past but might be a simpler and powerful planning tool for many in the current tax environment. Trust protectors, swap powers, conversions and so many more techniques can provide valuable benefits.
A PDF copy of the article can be found here.