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The successor trustee follows your specific directives on what to do much the same as an executor would,except there is no probate.
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It should take into consideration what you want to happen to your property upon your death,the financial well-being of your family,the degree to which probate can be avoided,and how to eliminate or minimize estate taxes A routine accounting of expenditures can be needed,where an individual designated in the trust,or a beneficiary,makes sure that principal and earnings are paid for an animal’s advantage The Law Firm of Steven F.Bliss Esq.But bear in mind that with the estate tax rate presently at 40% and the leading capital gains rate presently at 20%,the capital gains impact may be substantially less than the estate tax impact.
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Having started out in public accounting I possess a solid business background and given that I have been a consumer oriented attorney since the early years of my practice I clearly understand the many different needs of individuals families and small businesses estate.
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