Maybe so. Regardless, it is prudent. What is a Fiduciary Accounting? A Trustee generally has an annual duty to report to the trust beneficiaries in the form of a fiduciary accounting. · A fiduciary accounting is a comprehensive report of the financial activity within a trust (or estate) during the reporting period. · The accounting…
Irrevocable trusts are the path to using your gift, generation-skipping, and estate tax exemptions, saving taxes, and protecting assets in the current legislative environment. Use Exemption Now: The current (2025) estate, gift and generation skipping transfer tax (GST) exemptions are a generous $13,990,000, and are scheduled to automatically revert to about $7,000,000 on 1/1/2026. This…
We engage in wealth planning by integrating tax and estate planning goals. Part of that process includes a review of your current estate planning documents. It’s a good idea to go through this process every three to five years, and especially after a big life event. Here are some big life goals and events that…