Set Up An Irrevocable Trust For Your Estate With Us
Irrevocable trusts are a common estate planning tool that can be utilized to help reduce or remove estate taxes in a variety of ways. They are also known as irrevocable living trusts and testamentary trusts. However, once finalized, it cannot be terminated or altered.
Call the estate planning professionals at The Law Office Of Paul D. White P.A. today for more information on whether an irrevocable trust is the right option for your estate planning needs. We have over 21 years of probate experience ready to help you.
Choose From These Types Of Irrevocable Trusts
Bypass trusts: used by spouses to reduce estate taxes after both of them pass away. After the first spouse dies, the assets and property go into the trust for the second spouse, but they never own it despite being able to use the property and income. After the second spouse dies, the trust property is not included in their estate
QTIP trusts: used by couples to postpone paying taxes on an estate until after the second spouse dies
Charitable trusts: reduces income and estate taxes through charitable gifts. They are available in the forms of charitable remainder trusts, charitable lead trusts, and pooled income trusts
Other examples include generation skipping trusts, life insurance trusts, and grantor-retained interest trusts. Call us for a FREE initial consultation to discuss your options!
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About The Law Office Of Paul D. White P.A.
The Law Office Of Paul D. White P.A. has over 21 years of experience representing clients across Saline County. We are locally owned and we are members of the National Academy of Elder Law Attorneys, Inc. Call us today for your FREE initial consultation!