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Generation Skipping Trusts - Allow you to skip a certain generation of giving in favor of flexibility in gifting plans, which may also relieve tax burdens for your heirs.
Dynasty Trusts - Allow for restricted distribution of wealth, but ensure a lasting legacy and preserve estate taxes.
Irrevocable Life Insurance Trusts - Allow for distribution of life insurance proceeds into trust, while sheltering a significant percentage of insurance proceeds from estate taxes.
Charitable Trusts - Allow you to continue to receive income from assets placed in a trust, with the remainder going to the charity of your choice after the trust terminates.
Steps to design an estate plan:
- Gather all personal and family information and decide to whom and how you would like your assets distributed.
- Take an inventory of your assets and liabilities to determine your personal net worth.
- Rank your wishes in priority according to your goals and objectives.
- Contact ESTATE COUNSEL, LLC to identify the best legal strategy to accomplish your goals and objectives.
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