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Irrevocable Trusts provides a comprehensive review of the types of trusts used for estate planning, the income tax implications of irrevocable trusts, involvement with the IRS, and the calculation of assets being transferred by the trustee. The author answers the two questions most commonly encountered when drafting a trust for the purposes of income and asset shifting: who can be a trustee and how will the transferred assets be valued.
You'll find tools you need to successfully prepare and implement the irrevocable living trust, including:
Diagrams, flow charts, and other visual aids are included to help you communicate vital information to your clients. Sample forms, letters, and wills are also available on CD-ROM in Corel WordPerfect format to make drafting trusts easier.