01-24-2018, 05:06 PM
Note that Testamentary Trust could also be applicable if you're bequeathing assets to a minor. In my case, we're leaving money to my nieces but I don't want them to have it in a lump sum as soon as I die. Per this clause in my Will, they have to wait until they're 25 to get the money. I did this to ensure some level of fiscal responsibility... or, at least, more than they would have at age 10.
Estate tax limit is half that for transfer of assets, but you're right in that you don't need it right now. Our net worth isn't anywhere near 5.5 million, but I didn't want to have to update my Will if I manage to get there.
Estate tax limit is half that for transfer of assets, but you're right in that you don't need it right now. Our net worth isn't anywhere near 5.5 million, but I didn't want to have to update my Will if I manage to get there.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth