trusts Archives - Kevin J. Moore & Associates

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Adding Flexibility and Peace of Mind: Why Every Trust Should Have a Trust Protector

Trusts, as we have known them for centuries, are made up of four parts: the settlor, the trust (i.e. the assets,) the trustee and the beneficiaries. But more recently a fifth element has come into play, a trust protector or trust advisor who has the power to direct a trustee to do or not do something. The role of trust protector originated with offshore trusts. Settlors with assets in the […]

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The Most Overlooked Provision in Your Trust Documents

Signing documents

When creating an estate plan, tension often arises between carrying out the wishes of the person setting up the trust (aka the settlor) and the requirements of the law. The law often requires the settlor to make certain commitments in order to get tax and related benefits. That is why irrevocable trusts often make people nervous. The word “irrevocable” has finality to it, and raises the question, “Am I really […]

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Trusts and real estate, part 2: What is a QPRT?

Piggybacking on my last post about transferring real estate into a living trust, let’s also look at a special type of irrevocable trust, the Qualified Personal Residence Trust or QPRT. QPRTs not only protect your assets in real property by moving them out of your taxable estate, they can also help you reduce your tax burden. Here’s how it works: You, as the owner of a personal residence, transfer the […]

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