Part of our job here at SSLF is balancing factors in a client’s estate plan. This means that we must both get to know you as an individual and understand your family dynamics. We also have to consider taxation, the balance between protection and access, and any additional guidance that your beneficiaries may require in the future.
We also have to incorporate flexibility. After all, who knows what will happen in the future? Legislation could change taxes and/or legal rights. The economic situation can change. Beneficiaries can pass away or become alienated from the trustor. Powers of appointment are one way we build both flexibility and resilience into a plan without creating additional complications.
These powers exist in two broad categories: 1) general, meaning the holder has wide latitude to exercise it. 2) limited, which is much narrower.
Click here to learn more!
- Interest Rates and Estate Planning – Part I - March 16, 2023
- Love and Your Estate - March 14, 2023
- Lessons from Lisa Marie - March 9, 2023