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William Byrnes (Texas A&M) tax & compliance articles

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The Not-So-Irrevocable Trust: Unlocking Trust Assets

Posted by William Byrnes on July 18, 2013


The “irrevocable” label might have some clients feeling like they are locked into previously established irrevocable trusts for life, which might not always be the case. There are many reasons why a client might remain interested in preserving an irrevocable trust, but after the fiscal cliff deal made the generous $5 million estate tax exemption and spousal portability permanent, there are equally strong reasons why a client might prefer to terminate. …

The choice to terminate will force clients to reevaluate insurance and other trust held assets and lead to what are often long overdue replacement or reallocation discussions.

When Can an Irrevocable Trust Be Terminated?

Read the full analysis at ThinkAdvisorhttp://www.thinkadvisor.com/2013/06/17/the-not-so-irrevocable-trust-unlocking-trust-asset

 

Posted in Estate Tax, Taxation, Trusts, Wealth Management | Tagged: , , , , , , , , , , | Leave a Comment »

 
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