Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

A Member of the Law Professor Blogs Network

Wednesday, July 16, 2014

New Issues Arise as Trusts Age

ConcernBig life changes or just the passage of time can create problems for long established trusts. Just the fact that the beneficiaries are aging can make the trusts less efficient than when they were created. Changes in tax laws and the value of investments can also affect a trust over time. While options for correcting developing problems are limited if the trust is irrevocable, it is still important to take inventory and check in on all family trusts from time to time. Some possible solutions include discontinuing future funding of problem trusts and creating new ones, or creating an LLC for the trust to invest in.

See Judith Saxe, Old Trusts, New Problems, Private Wealth, July 11, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/07/new-issues-arise-as-trusts-age.html

Estate Planning - Generally, Non-Probate Assets, Trusts | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef01a3fd32c19f970b

Listed below are links to weblogs that reference New Issues Arise as Trusts Age:

Comments

Post a comment