Estate Planning Pitfall – You haven’t reviewed your trusts this year

Description

Abstract: If an estate plan includes one or more trusts, it’s a good idea to review them in light of recent tax law changes. Higher income taxes — on individuals as well as trusts — may make it advisable to rethink the way the trusts are structured. This article discusses recent tax hikes for “high earners” and why it might be beneficial to convert a grantor trust to a nongrantor trust.