How to draft invasion clauses for marital and credit shelter trusts
Article Abstract:
A properly drafted provision allowing surviving spouses access to a trust's principal can avoid complex problems and frustrations and provide for health, support, education, and maintenance. Practitioners should consider form books as starting points and then carefully tailor an invasion provision to the specific circumstances. This approach best ensures the surviving spouse's well-being and avoids potential conflicts with other trust beneficiaries.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1998
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Charitable lead trusts offer tax and nontax benefits
Article Abstract:
Wealthy donors should consider using charitable lead trusts for tax purposes as well as their social impact. Philanthropy can be taught to heirs via the proper use of these trusts. Charitable lead annuity trusts and charitable lead unitrusts, for example, can help reduce income, gift, and estate taxes. However, donors must consider generation-skipping transfer tax consequences in evaluating the appropriateness of using these trusts.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1997
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