Teach your clients well
“Long Time Gone”
Lesson: Utilize multigenerational trusts
Song from Crosby Stills & Nash’s eponymous 1969 album.
“There’s a myriad of types of irrevocable trusts, including protecting life insurance and other non-probate and probate assets, lifetime gifting and transfers, charitable planning, and business entity structures implemented during the life that would ensure that assets are limited in the estate, and even if there are unpaid liabilities, including taxes, there are no assets that the IRS could levy.”
— Priya Prakash Royal, managing attorney, Royal Law Firm