Learn how irrevocable trusts protect assets, reduce estate taxes, and provide long-term financial control by placing wealth under the management of an independent trustee.

This article explores the strategic use of this election, highlighting its potential to optimize tax outcomes for both trusts and beneficiaries while cautioning against its pitfalls.

Consider ease of set-up, ability to modify, asset protection, and tax benefits Reviewed by Anthony Battle Fact checked by ...

New Jersey does not have a statute authorizing the decanting of trusts, but a "common-law decanting" can be accomplished thanks to the Wiedenmayer case. For tax and nontax reasons, estate planning ...