If a beneficiary receives an inheritance outright, rather than in trust, there is little that can be done to prevent possible inadvisable use of the funds. Our trust lawyers take a closer look at a few key events and life stages that might prompt family to restructure assets and modify trusts for future heirs.
Speculation of forthcoming tax law changes under the Trump Administration has been a prime topic of financial talks and news media since Election Day. However, another tax matter currently under review would impose an inheritance tax on foreign assets for some taxpayers.
The Special Needs Trust Fairness Act is pending the president's signature before becoming law. The new law will allow disabled individuals to execute a SNT instead of relying on another party.
President-elect Donald Trump is expected to tackle several tax matters when he takes office in January 2017. Many Americans may need to adjust their tax planning efforts as a result.