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Let’s say you’ve stored your eggs, sperm, or embryos.  You later sign a will or trust requiring that your estate is to be divided among “your children.”  After your death, a child results from the eggs, sperm, or embryos.  Does that child get to share in your estate or not?  What if your estate or […]

  As discussed in a previous post, irrevocable life insurance trusts (ILITs) are a relatively common subset of irrevocable trusts.  Because the goal is typically to get the life insurance out of the policy owner’s taxable estate, both the owner and the beneficiary must be, or change to, the trust; and there are also other […]

If you’re creating an irrevocable trust, you can’t just sign the trust document and go on your way.  To fulfill your gift tax goals, income tax goals, or other planning goals, you also have to fund the irrevocable trust. The first question is whether the irrevocable trust will or won’t be a grantor trust.  In […]