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| If a person wants to really accomplish something meaningful, establish an irrevocable trust and move major assets inside. Accomplishes so many vital tasks, mainly removal from your estate for purposes of avoiding federal and state estate taxes, and protection from lawsuits. Unfortunately, seasoned citizens have a tendency to drive about 6 months longer than they should, and the results can be tragic. Wrongful death suits cuz they killed somebody in an accident. Income can be distributed out to the donors via the H.E.M.S. criteria by the trustee. An irrevocable trust is a very powerful tool to utilze.
Edited by Boone & Crockett 1/29/2026 10:15
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Generational Wealth - again - sort of
