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June 7, 2021

Delaware and Silent Trusts

Many high-net-worth individuals express concerns about notifying their children of a Trust they are a beneficiary of as their children may be young adults who typically do not have the ability, knowledge, or maturity to handle their family’s wealth appropriately.…

May 17, 2021

Invest Early, Invest Often

A recent article about wealth inequality in the US and the growing wealth gap highlighted the stark difference between the top 1% and all others. Total wealth (assets minus liabilities) in the US is estimated at over $100 trillion (Brookings…

April 30, 2021

What is Distributable Net Income, and Why is it Important?

The IRS views most trusts as a separate and distinct tax entity, and accordingly, the IRS taxes them as such. Trusts will often have a separate Tax Identification Number (TIN) and file their own separate tax return, IRS Form 1041,…

March 8, 2021

Grantor Trusts

A Grantor Trust serves as the centerpiece of most estate plans because it allows the Grantor to transfer assets out of his or her gross estate for Federal estate and gift tax purposes (by contributing such assets to a Trust)…

February 10, 2021

Be Aware of the Money Mule Scam

When one hears the term “money laundering,” the image that typically comes to mind is of a mastermind criminal disguising their wealth.  For example, a wealthy but crooked business tycoon that has concocted a genius plan to move funds of…

January 20, 2021

Delaware Trust Act 2020

Delaware Trust Act 2020 House Bill 334 was passed by both houses and approved by Governor Carney on August 6, 2020. Section 3343, Trust Act 2020 revises new Section 3343, which allows a person responsible for changing fiduciaries of a…

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