this taxing life, by Vernon Jacobs, CPA.
Jacobs is the co-author of Legal Ways to Save Taxes Offshore & Onshore, of Offshore Tax Strategies, of The Controlled Foreign Corporation Tax Guide and of Risk Management for Amateur Investors. He is the Editor & Publisher of the International Wealth Protection Monitor newsletter and the free Q&A service, the Jacobs Report on International Financial Planning. He is the President of Offshore Press, Inc. and is a member of the International Tax Technical Resource Panel of the American Institute of CPA. He has been a CPA since 1962, with a focus on taxes since 1975. .
Will A Living Trust Save Estate Taxes ?
The advocates of a living trust will tell you that the trust will save estate taxes. The critics will tell you it won't help you to save estate taxes. Who is right? Both are right and neither are right. A living trust can be drafted so that a second trust is created, when you die, that makes maximum use of two lifetime estate tax exemptions if you are married. However, this estate planning arrangement isn't unique to a living trust. It's often done with a well-drawn will and with trusts that are created at the time of your death. And if you are single (or a surviving spouse), you are only eligible for one lifetime estate tax exemption - which is available to you regardless of whether you have a will or a trust.
by Vernon Jacobs, CPACo-author of Legal Ways to Save Taxes Offshore & Onshore
http://www.offshorepress.com/legalways2save.htm
| Contact Information: Email jacobs1@kc.rr.com. Phone
913-362-9667, Fax 913-432-7174, U.S. mail to POB 8194, Prairie Village,
Kansas, 66208. www.vernonjacobs.com |
Jacobs is the co-author of Legal Ways to Save Taxes Offshore & Onshore, with J. Richard Duke, JD, LLM.
