Estates, Gifts, and Trusts Video Series
Understanding & Leveraging Gifts & Trusts
Gain a comprehensive understanding of gifting and trusts and how to leverage their options that best suits your estate planning goals. While each can be used to protect assets and minimize estate taxes, the nuances for them do vary. And some IRS tax laws and regulations have changed.
Brady Ware’s director of estates, gifts and trusts, Mark Kassens, reviews where things stand while also summarizing each during this seven-part video series. Learn more in the videos below about the benefits of each, considerations, and strategies for maximizing the value of gifts while minimizing tax implications.
VIDEO 1
Grantor and A-B Trusts Explained
Having a trust for your estate can help you avoid probate, ensure a smooth transfer of assets, maintain privacy, and potentially reduce costs. Trusts also provide control, flexibility, and protection of assets, and they allow you to dictate how your assets are managed, distributed, and protected for the benefit of your beneficiaries. So what kind of trust is right for you?
VIDEO 2
Understanding Spousal Lifetime Access Trusts (SLAT)
Understanding a Spousal Lifetime Access Trust (SLAT), a popular estate planning tool for married couples, can help provide you with options to minimize estate taxes. Listen in as Mark Kassens, Brady Ware’s Director of Estates, Gifts and Trusts, explains the backgrounds of SLATs, when they are useful, some limitations of them, IRS clawback, and an update on when they can be funded.
VIDEO 3
Irrevocable Life Insurance Trusts
Irrevocable Life Insurance Trusts can be a valuable estate planning tool. Mark Kassens discusses ILITs: their uses, how they work, who typically uses ILITs, and how ILITs can be used to save on estate taxes and provide liquidity for beneficiaries. Mark also discusses the different types of life insurance policies that can be used in an ILIT, as well as the pros and cons of each type.
VIDEO 4
Charitable Lead and Remainder Trusts
Charitable remainder trusts and charitable lead trusts are both types of irrevocable trusts that can help you support your favorite charities while also providing financial benefits for yourself and your beneficiaries. Charitable remainder trusts provide you with income for life or a set period of time, followed by a charitable gift. Charitable lead trusts provide a charitable gift for a set period of time, followed by a gift to your beneficiaries. To learn more about which type of trust is right for you, contact a Brady Ware advisor.
VIDEO 5
Intentionally Defective Grantor Trusts
An intentionally defective grantor trust (IDGT) is an estate planning tool that is designed to freeze the value of certain assets for estate tax purposes while allowing the trust’s assets to continue to grow tax-deferred. IDGTs can be a valuable estate planning tool for wealthy individuals who are concerned about the potential for their estates to exceed the federal estate tax exemption.
VIDEO 6
S Corporation Trusts
We dive into the world of S corporation trusts, exploring their eligibility, benefits, and potential pitfalls. Mark Kassens unpacks the three main trust types allowed as S corporation shareholders: Grantor Trusts, Qualified Subchapter S Trusts (QSSTs), and Electing Small Business Trusts (ESBTs). By understanding the different types of S corporation trusts and their key considerations, you can make informed decisions about this potentially valuable tool for your business and estate planning needs.
VIDEO 7
Estate Planning
You’ve invested in your dreams. Now, invest in their future. Leaving your business, finances, and loved ones unprepared can be chaotic. We take a look at estate planning for small business owners, empowering you to navigate wills, trusts, and taxes and safeguard your legacy.
Questions?
Estate, Trust, and Succession Planning Services
Mark’s background in tax enables him to provide extensive services to the firm’s clients in the areas of estate and retirement planning, and business succession consulting.