Learn the benefits and drawbacks of using trusts versus outright gifts when passing assets to your children or grandchildren.

Consulting with an estate planning attorney who is also familiar with Medicaid and estate administration can help you craft a ...

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Craig Associates, PC, the downtown Asheville firm led by attorney Christopher M. Craig, has been awarded Gold in the Law Firm category of the Best of Asheville 2024 awards, earning the distinction of ...

Kim explained that her parents were considering setting up both a revocable trust and an irrevocable trust. Their goal? To stay in control of their assets while they're healthy and to potentially ...

While an irrevocable trust can, in some cases, protect assets from being counted for Medicaid eligibility, Orman pointed out a major trade-off: "It no longer is part of your estate.

Forming a trust now and funding it after Congress decides whether to keep the current gift tax exemption rate could make for an effective preemptive strike.

General Differences: Revocable vs. Irrevocable Trusts Both revocable and irrevocable trusts offer benefits that make them attractive tools for managing and distributing wealth.

Trust planning has become a common estate planning strategy to accomplish a variety of goals. While the primary purpose of revocable trusts is usually to avoid probate, irrevocable trusts are ...

A flexible irrevocable trust can minimize taxes on capital gains, ordinary income, estate tax and property tax.

This is part 14 of an ongoing series about using trusts and LLCs in estate planning, asset protection and tax planning. The effectiveness of these powerful tools — especially for asset protection and ...

An education trust can be set up for one person or multiple people, and the trust maker decides how the money should be used and at what age.