There are three main types of trusts for special or supplemental needs. Each has their own specific purpose and use, and will apply differently for every party. First Party Special Needs Trusts The first party special needs trust was developed to be funded with assets owned by the trust…
SEEMINGLY COMPLICATED The Generation skipping transfer tax seems complicated to understand and it absolutely should only be dealt with by a seasoned professional, but there are some hallmarks that are present in each such transaction so that individual taxpayers know when the tax will apply and can follow a general…