Important Factors in Setting Up a Trust

1. Dolly Parton is known for her philanthropy and has lessons to teach about doing good.
2. Winning a money judgment in litigation does not automatically provide funds, and recipients must take further steps to collect.
3. U.S. citizens receive certain tax benefits throughout their lives and even upon their death, while non-citizens do not enjoy the same benefits. 1. Congress may need to address the sunset provisions of the Tax Cuts and Jobs Act in 2024, which includes the high estate tax exemption introduced in 2017.

2. The expiration of these provisions in 2025 raises questions about whether Congress will extend them or allow them to sunset during an important election year.

3. The decision on whether to extend these provisions may impact taxpayers and the overall economy.

Four Issues to Consider in Structuring a Trust