Trusts and Estates
Chapters in this video
- 0:00 The trust triangle: grantor, trustee, beneficiary
- 0:59 Revocable vs. irrevocable: the control trade-off
- 1:58 Revocable trust and the probate-versus-estate-tax trap
- 2:58 Irrevocable trust tax: compressed brackets and who pays
- 4:03 Testamentary trust timeline and the creditor protection delay
- 5:14 Estates as temporary clients: executor authority and short time horizon
- 5:53 Charitable split-interest trusts: CRT and CLT mirror images
- 6:23 The 10% minimum remainder rule for charitable remainder trusts
- 7:12 Rapid-fire exam recap
What this video covers
- Why a revocable (living) trust avoids probate court but still leaves every asset inside the grantor's taxable estate
- The irrevocable trust trade-off: estate tax removal, creditor protection, and compressed income tax brackets on retained income
- How testamentary trusts are born from a will, survive probate, and only gain creditor protection after probate closes and funding occurs
- The strict fiduciary chain of command: advisors take instructions from the trustee or executor, never from beneficiaries
- Why estates demand capital preservation and liquidity, and why their investment time horizon is always short
- The mirror image structure of charitable remainder trusts (CRT) and charitable lead trusts (CLT): who gets income versus remainder
- The 10% minimum remainder rule for charitable remainder trusts (CRT) and what happens if the trust document falls short
Read the full lesson, free
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