Revamping Trusts: New Tools for Estate Planning
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Bank of America unveils the truth about irrevocable trusts: theyre not set in stone forever. With tools like trust decanting, mergers, nonjudicial agreements, and built-in protectors, you can tweak, merge, or restructure them without courtroom drama. State trust laws have evolved, allowing these fixes to accommodate life changes like marriages, divorces, new kids, or spendthrift heirs. The federal estate tax exemption is jumping to fifteen million dollars per person starting January first, two thousand twenty-six, making older trusts from low-exemption eras counterproductive. Review your trust docs, check for protector clauses, and consult with your estate attorney and advisor to proactively tweak your legacy and save on taxes and fights.
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