The BDIT: Have your cake and eat it too

Description

Abstract: Many people are reluctant to consider advanced estate planning strategies because they’re not ready to give up control over their property. A beneficiary defective inheritor’s trust (BDIT) is a relatively new tool that, when structured properly, allows one to take advantage of sophisticated tax planning and asset protection techniques without losing control or enjoyment of the trust assets. This article explains how it works, with a sidebar offering a specific example.