Using Trusts to Maximize Family Protection and Minimize Estate Taxes

By: Joseph Pozzuolo, Jeffery S. Pozzuolo, Stephen P. Taylor

This article is geared toward practitioners, their clients, or sophisticated individuals who want an inclusive, background on article on trusts. This article will go through the many decisions a creator of a trust faces when drafting a trust. First, it discusses what a trust is and how it compares to other entities. Second, it examines the various trust options to help the creator of a trust determine the most desirable type, especially in regards to their tax consequences. Third, it considers various trust provisions pertaining to distributions of assets and beneficiaries' abilities to assert their rights. Fourth, it explores the possible choices of trustees and details provisions to safeguard against improper acts by trustees. Lastly, it discusses various schemes to fund the trust effectively in order to save estate and gift taxes or meet charitable purposes or other endeavors. 

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