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Types of Irrevocable Trusts

By The Chandler & Knowles Team | | 0

Trusts fall into two seemingly simple categories: revocable or irrevocable. However, things get more complicated from there. One type of irrevocable trust is a Qualified Personal Residence Trust. This is useful because the value of the home is not counted as part of your estate when it is in this trust. Timing is crucial when using a QPRT to..

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Is "Avoidance of Tax" a Criminal Offense?

By Chad Chandler | | 0

The term “avoidance of tax” seems to indicate some auspicious behavior from taxpayers, yet the IRS manual sec 25.1.1.2.4. says: “Avoidance of tax is not a criminal offense. All taxpayers have the right to reduce, avoid or minimize their taxes by legitimate means.” This is good news for taxpayers trying to keep more of their money by reducing..

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Irrevocable Trust Benefits

By The Chandler & Knowles Team | | 0

First off, you may be wondering what an irrevocable trust is; or you may be unfamiliar with trusts in general and need to know more before considering one. Essentially, a trust is a legal arrangement that provides for the ownership, management, and distribution of your property for the rest of your life, as well as after you are gone. An..

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