From the desk of W. Bailey Smith:
Trusts in the Age of Trump: Time to Re-Engineer Your Estate Plan
The federal tax overhaul doubled the amount of wealth you can pass to heirs estate-tax-free–without using any trusts or planning gimmicks. Trump’s law allows slightly more than $11 million per person to be passed to kids or other noncharitable heirs free of federal gift or estate tax. But by employing aggressive techniques, a couple could use their combined $22 million tax exemption to transfer more than a quarter-billion of assets into an irrevocable dynasty trust, where that wealth can continue to grow and pass, estate-tax-free, to an unlimited number of future generations. This is phenomenal. The numbers are beyond comprehension. The new tax law creates new opportunities to use trusts to protect your estate against predators and creditors, gigolos and floozies, and the death tax for generations. It’s time to update your estate plan today.