Should Your Children Control Their Own Trusts?

– Dolly Parton is known for her philanthropy and has lessons to teach about doing good
– After winning a money judgment in a court case, the next step is to collect the funds
– Non-citizens in the US do not enjoy all the tax benefits and protections that citizens do
– Estate planning is important for all adults, not just the wealthy, and allows individuals to designate their asset distribution and care for their minor children 1. Congress may address the sunset provisions of the Tax Cuts and Jobs Act in 2024, as it is an election year.
2. There are questions about whether Congress will extend the high estate tax exemption introduced in 2017 or allow it to sunset in 2025.
3. The outcome of the election may influence how Congress decides to address the sunset provisions of the Tax Cuts and Jobs Act.

https://smithlegacylaw.com/resources/insights/should-your-children-be-trustees-of-their-own-trusts/