Dynasty and Generation Skipping Trusts Can Trigger a Compromise Tax
A number of years ago I wrote about the dangers of accidentally triggering a Compromise Tax in New Jersey and in Pennsylvania. It occurs to me that most dynasty trusts are set up to go to children, grandchildren and more remote descendants, but there is also boilerplate that says if the Grantor doesn’t have any living descendants, it will […]
Dynasty Trusts Explained
I am frequently asked about the best way to transfer wealth to younger generations. Sometimes people feel that absent having a minor child, a problem child or a special needs child, there is no reason to set up a trust. Often times they are correct and there is no reason create a trust because the […]